Bitcoin trades at a major support ahead of the US CPI report. What to watch next?

AI summary

<p class="MsoNormal" style="margin: 0 0 11px; line-height: 106%; font-family: Aptos, sans-serif; font-size: 15px;">FUNDAMENTAL OVERVIEW</p><p class="MsoNormal" style="margin: 0 0 11px; line-height: 106%; font-family: Aptos, sans-serif; font-size: 15px;"> </p><p class="MsoNormal" style="margin: 0 0 11px; line-height: 106%; font-family: Aptos, sans-serif; font-size: 15px;">Bitcoin dropped all the way back to the key $76,000 support level, as first the strong US NFP report and later the surge in oil prices increased Fed rate hike expectations.</p><p class="MsoNormal" style="margin: 0 0 11px; line-height: 106%; font-family: Aptos, sans-serif; font-size: 15px;">This week has been all about the tensions in the Middle East. The escalation in attacks between US and Iran, and Yemen’s Houthis attacks on Saudi energy facilities, provided a tailwind for oil prices to push into new highs.</p><p class="MsoNormal" style="margin: 0 0 11px; line-height: 106%; font-family: Aptos, sans-serif; font-size: 15px;">The momentum then increased as traders started to price in a prolonged conflict after <a href="https://investinglive.com/commodities/trump-says-oil-prices-won-t-come-down-until-after-the-midterms-3/" rel="follow" style="color: rgba(70, 120, 134, 1); text-decoration: underline;">Trump said that he expects the war with Iran to end immediately after the US midterm elections in November</a>, effectively acknowledging that