The Bitcoin price continues to trade sideways, as uncertainties on the macro side have made investors undecided about their next move. Crypto analyst Michael van de Poppe has provided insights into Bitcoin’s price trajectory and has raised the possibility of the crypto dropping to as low as $48,000. What Could Make Bitcoin Drop To As Low As $48,000 Van de Poppe mentioned in an X (formerly Twitter) post that Bitcoin could break below $56,000 and drop to a price target of $48,000 if the Consumer Price Index (CPI) inflation data comes out badly. Meanwhile, he added that with Bitcoin currently above $56,000, the first resistance it needs to break is between $60,000 and $61,000. He claimed that a breakout would bring Bitcoin next to its current all-time high (ATH) at $73,000. Related Reading: Dogecoin On Track To Rally 100% To $0.2; Crypto Analyst The CPI inflation data released on August 14 saw a 0.2% monthly increase in July and rose at an annual rate of 2.9%, meeting expectations. As such, it was neither considered bullish nor bearish for the market, as Bitcoin remained steady following the news. Howe ..
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