Traders were already playing it safe before the inflation news dropped, which might explain why Bitcoin bounced back to the $70,000 to $72,000 range so quickly.
Technical signals, like a strong RSI and steady money flowing in, point to solid momentum.
If Bitcoin keeps this up and breaks through $75,000, we could see it aim for $78,000 or even $80,000 soon.
But if it slips below $70,000 again, a dip back to around $65,000 is possible.