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Bitcoin in Limbo as Stocks Rebound Ahead of US Inflation Report
Bitcoin has slipped back towards $75,000 after a sharp rally and a volatile week, while US shares recovered as oil prices fell. Investors are watching the forthcoming US inflation report, which could influence expectations for Federal Reserve interest rates and shape the outlook for both markets.
Bitcoin was up about 0.7% at roughly $74,600 after reaching a low not seen in more than two months. Crypto markets saw $1.2 billion in liquidations over 24 hours, about $1.04 billion of them long positions. Technical indicators show Bitcoin below its 50-week average near $78,250 but above its 200-week average around $69,790; traders are watching support near $74,400 and resistance near $76,040.
In short
- Bitcoin hovered around $74,600 after a two-month low.
- Crypto liquidations reached $1.2 billion in 24 hours.
- US inflation data could affect rate expectations.
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