Bitcoin May Drop Toward $70K Ahead of US Inflation Report

Bitcoin may face renewed downside pressure ahead of the upcoming US inflation report, with analysts warning that the cryptocurrency could retreat toward the $70,000 level if inflation remains elevated.

According to estimates from the Cleveland Federal Reserve, April headline Consumer Price Index (CPI) inflation is projected to rise to 3.56% year-over-year compared to 3.3% in March. The official inflation report is scheduled for release on May 12.

Analysts say a stronger inflation reading could reduce expectations of early US Federal Reserve interest rate cuts, which typically puts pressure on risk assets such as Bitcoin.

Market observers noted that Bitcoin had previously remained resilient despite higher inflation data due to strong institutional buying activity. However, that support may now be weakening after major corporate buyer Strategy paused additional Bitcoin purchases.

Technical analysts also pointed to a bearish “rising wedge” pattern forming on Bitcoin’s daily chart, which could signal a deeper correction if support levels fail to hold.

According to market projections:

At the same time, analysts noted that a breakout above the key resistance zone near $84,000 and the 200-day exponential moving average could invalidate the bearish outlook and potentially push Bitcoin toward the $90,000–$95,000 range.

Institutional flows into Bitcoin ETFs have remained relatively strong in recent weeks, but traders are increasingly cautious ahead of the inflation release and future Federal Reserve policy signals.

CryptocurrencyBitcoin Profit-Taking May Rise as BTC Hits 3-Month HighBy Sabica Tahira|2 days ago|2 min readBitcoin profit-taking could accelerate as the cryptocurrency climbs to three-month highs, with investors increasingly locking in gains after the recent rally, according to CryptoQuant Head of.

CryptocurrencyBitcoin Eyes $92K Target as Bulls Test Key $84K ResistanceBy Sabica Tahira|May 7, 2026|2 min readBitcoin’s recent rally has pushed the cryptocurrency to a multi-month high of around $82,240, as buyers return to the market and onchain indicators signal continued.

CryptocurrencyBitcoin Eyes $85K as Rally Gains Strength on ETF Inflows and Miner ProfitsBy Sabica Tahira|May 6, 2026|2 min readBitcoin surged to $80,000 this week, marking its highest level in three months and reigniting bullish sentiment across the crypto market. The rally triggered approximately $270.

CryptocurrencyBitcoin Surges Above $80K in Disbelief Rally, $84K Target in FocusBy Sabica Tahira|May 5, 2026|2 min readBitcoin (BTC) climbed above the $80,000 mark on Monday for the first time since January, signaling renewed bullish momentum as analysts point to a potential move.