0602 GMT - Bitcoin retreats to below $71,000 as geopolitics and rate expectations damp the relief rally. XS.com's Linh Tran says there isn't a sufficiently strong market foundation to maintain an uptrend. Bitcoin got a boost after U.S. CPI soothed inflation fears, but Tran notes that inflation remains relatively high, particularly as energy prices keep swinging. That limits Fed cut hopes and focus returns to higher-for-longer rates. Bitcoin faces various constraining factors: persistent geopolitical risks, hesitant institutional demand and expectations for prolonged high rates that pressure liquidity-sensitive assets. It is likely to stay in consolidation or range-bound pattern. To confirm a sustainable bullish trend, Tran says the market needs to see factors like a genuine easing of inflation, signs of Fed loosening or a strong return of institutional flows. Bitcoin down 0.7% at $70,853. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
April 13, 2026 02:02 ET (06:02 GMT)
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