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Analyst: Bitcoin Daily Bollinger Bands Narrow to New Low Since Early 2024, Potentially Signaling ~40% Volatility Ahead

2 hours ago

April 10 (CoinDesk) — The crypto market held steady overall on Friday, with Bitcoin seeing minor volatility around $71,700 and Ethereum trading at $2,180, extending the low-volatility trend of the past few months. On technical charts, Bitcoin’s daily Bollinger Bands have contracted to their narrowest level since early 2024. Crypto analyst Eric Crown noted that Bitcoin has traded in a $63,000-$75,000 range since early February; historically, such a tight range has preceded roughly 40% price swings. Per CoinGlass’s liquidation heatmap, a breakout above $75,000 would spark upward momentum and force short sellers to cover their positions. A short-term drop below $70,000, meanwhile, would wipe out roughly $200 million in long positions betting on a breakout. A key catalyst Friday was U.S. Consumer Price Index (CPI) data. March’s annual inflation rate is expected to hit 3.3%, pushed higher by rising energy costs. Inflation readings above expectations often strengthen the U.S. dollar, putting pressure on risk assets like Bitcoin.
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Surging Oil Prices Drive Inflation Higher, U.S. March CPI Jumps Sharply

April 10 U.S. Department of Labor data released Friday showed March CPI rose 3.3% year-over-year—well above February’s 2.4% reading. Core inflation (excluding food and energy) climbed 2.6% on a year-over-year basis, slightly below the 2.7% market forecast. March energy prices jumped 12.5% y/y, sharply faster than February’s 0.5% gain. Gasoline prices rose 18.9% while fuel oil surged 44.2%. This was the first report to capture the Iran war’s impact on U.S. inflation: Closure of the Strait of Hormuz disrupted shipping last month, pushing up crude oil and gasoline prices. Economists warn that even if the Strait fully reopens, energy and commodity prices that spiked amid the war are unlikely to return to pre-war levels immediately. Businesses typically act fast to hike prices but are slower to cut them. Stifel Chief Economist Lindsey Piegza noted: “Most of these impacts will likely materialize one to two months down the line.”

3 minutes ago

U.S. Delegation Departs for Pakistan to Participate in US-Iran Negotiations

On the evening of April 10 (Pakistan time), a U.S. delegation attending U.S.-Iran negotiations departed for Islamabad, Pakistan, with Vice President Mike Pence aboard. Before departure, Pence voiced anticipation for talks on the Iran issue, noting that President Donald Trump had provided “fairly clear guidance” on the discussions. (CCTV News)

3 minutes ago

Gasoline Price Surge Accounts for Almost Three-Quarters of U.S. CPI Gain

On April 10, data showed the March U.S. non-seasonally adjusted annual CPI rate came in at 3.3%—with gasoline prices making up nearly three-quarters of the increase in U.S. CPI. (Financial Times)

3 minutes ago

The key negotiations between Iran and the United States are set to take place tomorrow

April 10th — Pakistani media confirmed an Iranian delegation has arrived for negotiations, with key talks between Iran and the U.S. set to take place tomorrow. (Golden Ten)

3 minutes ago

The Strategy Preferred Stock (STRC) has raised funds this week to purchase 8000 BTC.

On April 10, BitcoinTreasuries.NET reported that Strategy’s preferred stock STRC has raised sufficient funds this week to acquire 8,000 BTC.

3 minutes ago

Before CPI Data Release, Fed's Daly Vaccinates Against High Inflation

April 10th – Federal Reserve official Daly said the U.S. already had inflation work to address before the oil price shock, and that work now will take longer. A rate cut is “not out of the question” if the Iran conflict resolves quickly and oil prices decline, she noted. But if inflation stays higher than expected for an extended period, the Fed will remain patient until it’s confident inflation is resolved. Daly added the likelihood of a rate hike is lower than that of a cut or holding rates steady. Persistently high oil prices would boost inflation and weigh on economic growth, she said—adding she’s already seeing price pass-through (e.g., people cutting travel due to cost concerns). However, she emphasized current price pressures aren’t fundamental; the Fed needs to monitor the conflict’s trajectory and how businesses pass on higher costs. The real issue is whether a ceasefire holds: if it does, CPI data becomes irrelevant, and high inflation readings won’t surprise anyone.

3 minutes ago

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