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Will Bitcoin Price Drop to $75,000 Ahead of US CPI Data This Week?

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Summary
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61% Informative

Bitcoin price has crashed by 4.5% taking a dip to $ 80,350 levels as market sentiment turns bearish just ahead of the US CPI data release this week .

Veteran trader Peter Brandt highlights a bearish pennant pattern and a double top formation in Bitcoin price chart.

Support at $ 81,513 appears fragile, with potential targets of $ 78,000 or $ 75,000 .

Institutional interest in Bitcoin continues to wane, with $799 million in net outflows from Bitcoin spot ETFs last week .

February ’s U.S. consumer price data is expected to reflect gradual progress in controlling inflation.

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