The price of Bitcoin and Ethereum have recently experienced substantial swings, reflecting the recent volatility of the cryptocurrency market. Investors and traders keep a close eye on how macroeconomic data affects the value of digital assets. The US Consumer Price Index (CPI) and Retail Sales numbers are the focus of attention today since they are predicted to shed light on the health of the US economy and inflationary pressures.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 24,398.91 |
Bitcoin Price Prediction
The BTC/USD pair displayed a positive trend on Wednesday at the $24,850 level. On the upside, there may be immediate resistance for bitcoin at a price of $25,250. If this threshold is crossed, more purchasing chances might become available, with a potential advance towards $26,700.
But if the $24,000 immediate support level for Bitcoin is broken, it would lead to more selling pressure, possibly driving the price as low as $23,750. If the price breaks above $25,225 today, traders could want to think about a purchasing trade.
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