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Softer-than-expected crypto regulation and stocks’ rebound position Bitcoin for a $42K close -Breaking

by Mike Robinson

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© Reuters

(BTCAfter a disastrous retest at $38,000 on March 7, the bulls intervened to protect the $40,000 support. After BTC failed on March 2 to surpass $44,500, the momentum and confidence that had been building earlier in the month were suddenly destroyed.

The Bitcoin price rally on March 9 has been partially attributed to this week’s expected United States inflation data report. The consumer price index (CPI), which is 7.9% annually, will set another record for the 40th year. Analysts anticipate another historic high.

For March 11, Bitcoin options have an aggregated open interest of $11 million Source: CoinGlass

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