Analysts say Bitcoin’s range-bound trading at a key support level reflects a trend reversal

Bitcoin (BTC) and cryptocurrency holders are enjoying the fruits of their labor on Feb. 10 after Bitcoin price rallied shortly after the U.S. Bureau of Labor Statistics showed a blistering 7.5% Consumer Price Index (CPI) print. This shows that inflation continues to worsen as fiat currencies bleed out their purchasing power. 

Data from Cointelegraph Markets Pro and TradingView shows that after trading below $44,000 during the early hours on Feb. 10, the price of Bitcoin spiked to an intraday…


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