Bitcoin price is about to make a long-awaited channel breakout and $75,678 was tested. Bitcoin, which was stalled at resistance at the time of writing, could return to $80,000 if successful. Perhaps the resistance will have been broken by the time the article is published. The new Fed President’s crypto asset and statements about the agreement contributed to the rise.
Bitcoin goes to 80 thousand dollars
Current PPI We wrote about 2 hours ago that the channel below may be broken as the US stock market will probably open with buyers following the data. The process developed as expected, and the PPI, which was weaker than expected, the support of the stock market, and Warsh’s support. crypto assets Meanwhile, Bitcoin is about to break the resistance level of the channel.
Kevin Warsh, Trump’s nominee for Fed Chairman, will enter the Senate vote. Before this, he disclosed his assets and thus we learned that he was a cryptocurrency investor. For the first time, we will see a Fed President who invests in cryptocurrencies. Warsh also has investments in Polymarket and SpaceX.
A Trump Administration Official just said, “All elements of the agreement are ready, but it is not finalized yet.” So the deal time is approaching. If Bitcoin can use this positive atmosphere, it is possible to earn 80 thousand dollars as US investors have been in buyer positions for days. We have not yet seen any statements coming from Iran that undermine hopes for a ceasefire or peace.
Fed statements
Fed Member Goolsbee drew attention to the increase in inflation in his ongoing statements. The name, which focuses on the risks of the current trend, has previously kept its distance from interest rate cuts and is not wrong to be worried about the current situation. Oil is still above $90 and the level it needs to be to fight inflation is below $70.
The important highlights of his ongoing statements are as follows:
“We have been above the target continuously for five years. Inflation We must pay attention to their expectations. While there are situations in which interest rates can be increased, there are also situations in which they can be kept constant or reduced.
(About Iran-US tensions) My concern is how long this will last. Before the war, I was optimistic about interest rate cuts. The longer this situation lasts, the longer inflation remains high, delaying interest rate cuts beyond 2026.
If inflation does not improve, time for optimism is delayed. We will have to wait and see what happens in the oil markets. I would feel better if I saw progress in core inflation, even if headline inflation was high. If inflation is 4%, no one should think that interest rates should go back to 2%.
I’m worried about how long the Iran war will last. Without deflation, further rate cuts in 2026 seem unlikely. Normally, we do not tighten during a supply shock. If gasoline reaches $5 and remains at that level for months, inflation expectations may become unfixable.
So far, inflation expectations have stabilized.”
17:52 Update: BTC $76,000
