US CPI Data is Announced! Bitcoin Price Has Moved. The price of Bitcoin is breaking above $17,500, while the price of Ethereum is approaching the important resistance at $1,300. The global market value continues to reach more than $855 billion jumping more than 1.38% and the volume of trade is rising almost 28%.
The top 2 cryptos now appear to have gained tremendous momentum that could lift the benchmark beyond their resistance levels.
The popular crypto strategist, Smart Contractor, believes that the pair ETH / BTC can rise to levels not seen in the last 5 years. Two methods that appear to be very dangerous right now can result in more profits than Bitcoin.
In addition, the new CPI level was announced and it went from 7.7% to 7.1%, which made the number of BTC even higher! BTC price is trading close to $18,000 but is likely to fall into a bearish trap soon. According to the popular analyst Il Capo of Crypto, the trend is still running and that is why the bear may enter the market soon.
The analyst warned his 684.6K followers about the fake bull rush that always catches the bulls. He thinks these false bulls get “hammered” once they hit resistance and fall more than 15%-20%. As the trend is bearish, the price level for Bitcoin and Ethereum remains at $12,000 and $600 respectively.