Bitcoin and Ethereum Price Forecast After Release of First US CPI Print Since US-Iran War
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The US CPI data for March shows a 3.3% year-over-year inflation rise, but Bitcoin and Ethereum prices remain steady. Analysts forecast a potential rally to $77K for Bitcoin and a strengthening bullish momentum for Ethereum amid positive SMA and RSI crossovers.
The US released its first CPI data since the US-Iran war began, showing a 3.3% year-over-year inflation rise in March. Bitcoin and Ethereum prices remained steady, with BTC trading at $72,233 and ETH at $2,220. Analysts predict a potential surge in demand for Bitcoin as an inflation hedge, which could also drive up Ethereum's price. A bull flag pattern on Bitcoin's four-hour chart suggests a potential breakout to $77,564. Ethereum's four-hour chart also shows a bull flag, with a confirmed breakout on April 10. Technical indicators support a bullish long-term price prediction for both Bitcoin and Ethereum.
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