Despite a 0.9% jump in U.S. inflation driven by high energy costs, Bitcoin surged past $73,000 on Friday, reaching its highest level since March 18. Key Takeaways: Bitcoin ( BTC) hit $73,332 on April 10, its highest since March 18. CPI showed 0.9% inflation in March, pushing Fed rate cuts further out.
Bitcoin's largest holders are quietly tightening their grip on supply again, and derivatives markets are starting to price that shift in conviction with a clear upside bias toward $88,000.
Bitcoin surged above the $72,000 level as easing geopolitical tensions sparked a wave of optimism across global markets. The move triggered a sharp rally, clearing key liquidity levels and pushing BTC higher in a short period, with momentum largely driven by headline sentiment rather than underlying structural strength.
Technical analysis, overhead supply awaiting absorption, and a shift in investor sentiment have increased the likelihood of Bitcoin reaching $80,000 in April.
Nasdaq-listed BitFuFu reduced Bitcoin reserves after selling 80 BTC while maintaining steady mining output in March.
The Bitcoin price surprised markets with a sharp upside move, reclaiming key resistance levels and pushing toward the $73,000 zone, even as US CPI printed its highest level in 22 months. The reaction caught many off guard, as elevated inflation typically signals tighter financial conditions and downside pressure on risk assets.
Bitcoin rises above $72,000 as March CPI hits 3.3% on energy costs, while core inflation stays moderate and markets watch U.S.-Iran ceasefire talks.
Bitcoin reaches 73,000 dollars amid a mixed macroeconomic context. The latest US inflation data signal a moderate price increase but mask a historic surge in energy costs.
The number of transactions (30-day Moving Average) on the Bitcoin (BTC) blockchain has exploded over the past three weeks, hitting a 17-month peak on April 10.
Bitcoin bulls spent the week stampeding toward a critical overhead resistance level, which, if breached, could restart the bull market in BTC and altcoins.
"Understand what you're buying and understand that this is not the stock market," he urged.
Bitcoin and Ethereum approach a $2.2B crypto options expiry on Deribit as prices recover and traders adjust positions.