Bitcoin Faces Pressure Ahead of Inflation Data Release

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 10 2026

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Rising Inflation Expectations: The Cleveland Fed's inflation nowcast projects April CPI at 3.56%, up from 3.3% in March, which could limit short-term relief for risk assets like Bitcoin and impact market sentiment.
Cooling Institutional Demand: Strategy's pause on Bitcoin purchases and its STRC stock trading below par reduce the urgency for new capital inflows, potentially exerting downward pressure on Bitcoin prices and affecting its near-term trajectory.
Technical Warning Signs: A rising wedge pattern has emerged on Bitcoin's daily chart, with a potential breakdown targeting around $70,000 if the lower trend line is breached, while a breakout could push prices toward the $90,000-$95,000 range.
Complex Market Dynamics: As the CPI release approaches, market participants may adjust their risk exposure ahead of the data, particularly around the critical support level of $78,600, where a breach could trigger larger downward adjustments.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	69606.249	71947.925	74544.419	76886.095	79482.589	81824.265	84420.759
Fibonacci	71947.925	73834.306	74999.714	76886.095	78772.476	79937.884	81824.265

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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