Can Bitcoin Price Hold Above $80,000 This Week?

Bitcoin has recovered to around $82,500 after briefly falling below $80,000 last week. But the rebound faces a major test on Wednesday , when fresh US oil inventory data could revive the inflation fears that triggered the selloff. Macro Conditions Heavily Impact the Market Bitcoin fell to $79,770 on Thursday as investors reacted to another troubling US inflation report. September consumer prices rose 3.7% annually, exceeding the expected 3.6%. Stronger producer-price and retail-sales figures added to concerns that the Federal Reserve could raise interest rates again.The pressure spread across financial markets. Technology stocks suffered heavy losses, while investors reduced exposure to riskier assets, including cryptocurrencies. By Monday, however, conditions had improved.Oil prices and US Treasury yields declined, easing some inflation concerns.

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