Cryptocurrency Price on April 10: Bitcoin falls below $69,400 ahead of US inflation data

Edul Patel, CEO of Mudrex, said, "Following a climb to $72,000 yesterday, Bitcoin retreated to $68,000 due to increased liquidations. Traders are keeping a close watch on today's US CPI data, which might exceed expectations. Bitcoin's current support stands at $67,700, with resistance noted at $70,400."

Meanwhile, CoinDCX Research Team, said, "In the last 24 hours, the crypto market experienced a downturn, primarily due to net outflows of ETFs, which negatively impacted the market sentiment."

It's worth noting that today's US CPI announcement may introduce further volatility into the market, CoinDCX said.

At 10.39 a.m., other altcoins such as Solana (-3.6%), (-5.2%), Cardano (-4.3%), Avalanche (-3.4%), Shiba Inu (-4.6%), Polkadot (-5.6%), and Bitcoin Cash (-7.4%) declined.

The global market cap slipped 3.2% to around $2.59 trillion in the last 24 hours.

The total volume in DeFi is currently $9.7 billion, 9.73% of the total crypto market 24-hour volume. The volume of all stablecoins is now $91.6 billion, which is 91.6% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.363 trillion. Bitcoin's dominance is currently 52.57%, according to CoinMarketCap. BTC volume in the last 24 hours fell 5.9% to $36.5 billion.

Tech view by Sathvik Vishwanath, Co-Founder & CEO, Unocoin

Today, the price of Bitcoin fell to $69,115, breaking the support of the ascending channel, and indicating a potential shift in market sentiment.

Technical analysis reveals resistance levels at $71,425, $72,740 and $73,775, with immediate support at $67,525. The Relative Strength Index (RSI) at 33 indicates bearish momentum, while the 50-day Exponential Moving Average (EMA) at $69,725 underscores current market uncertainty.

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Source: Forex-Markets-Economic Times