Analysis: Bitcoin Faces Resistance After Touching $72,000, CPI and US-Iran Negotiations Emerge as Key Variables

Odaily News Bitcoin has risen nearly 7% since Sunday, with its upward momentum slowing after reaching the $72,000 range, and institutional capital direction remains unclear. The market is focused on two major uncertainties: the US March CPI data (expected to exceed 3% year-on-year, driven by energy prices) and the progress of US-Iran negotiations over the weekend. The options market shows that while institutions are chasing $80,000 call options on Deribit and call options related to BlackRock's IBIT, they are also maintaining a high proportion of put options to hedge against downside risks. If CPI exceeds expectations, it may strengthen expectations for the Federal Reserve to raise interest rates, putting pressure on risk assets including Bitcoin. (CoinDesk)