Bitunux analyst: Market risk appetite plummets, cryptocurrencies are under pressure, BTC short-term support $82k

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On March 29, BTC price continued to fall, temporarily dropping below $82,000. The latest US economic data showed that core PCE inflation rose by 0.4% month-on-month, reaching the largest increase in a year, with a year-on-year increase of 2.8%, exceeding market expectations. Meanwhile, the University of Michigan's long-term inflation expectations reached a 32-year high, indicating increased market concerns about inflation recovery.

Bitunix analyst's perspective: The market is currently in a macro risk stage and needs to wait for market sentiment to calm down. If Bitcoin can stabilize above $82,000 and show signs of capital inflow, it can be considered to gradually increase positions, with the target pointing to above $90,000.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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