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Enter your emailThe pair will likely continue rising as investors target the key resistance point at 22,500.Timeline: 1 day.consolidated as investors reflected on the latest American consumer inflation data and as the earnings season started.The BTC/USD pair rallied slightly last week as investors reflected on the latest American inflation data. The data showed that the country’s consumer price index rose to a multi-decade high of 9.1%. It was the highest it has been in more than four decades.
Bitcoin also reacted mildly to the new bank earnings. Most American banks like JP Morgan, Citigroup, and Morgan Stanley missed analysts' estimates as the industry slowdown continued. Blackrock, the biggest asset manager in the world, saw inflows of over $69 billion, about $40 billion lower than what analysts were expecting. All companies that published their results avoided talking aboutThe BTC/USD pair also held steady as American stocks rebounded. The Dow Jones, Nasdaq 100, and S&P 500 indices rose by more than 2% on Friday as investors reacted to these results. Bitcoin has a close correlation with US stocks.
The next key catalyst for Bitcoin will be more earnings from the US. Some of the top companies that will publish their results are Bank of America, Goldman Sachs, IBM, Interactive Brokers, and Equifax among others. These results will have an impact on American shares and Bitcoin in extension. The BTC/USD will react to the important economic data from the US. The key data to watch will be building permits, housing starts, and flash PMIs.On the four-hour chart, this price moved above the
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