[Analysis: If U.S. April CPI exceeds expectations, Bitcoin may retrace to around $70,000] Deep Tide TechFlow reports, on May 10, according to Cointelegraph, market analysis indicates that with the U.S. April CPI data set to be released on May 12, Bitcoin may face greater retracement pressure. The latest forecast from the Cleveland Federal Reserve shows that U.S. April overall CPI year-over-year may rise to 3.56%, higher than March's 3.3%, potentially reinforcing market expectations that the Federal Reserve will find it difficult to cut interest rates in the short term, thereby suppressing risk assets like Bitcoin. Although Bitcoin has remained strong following the release of several previous higher-than-expected inflation data points, the current market support has weakened compared to before, and market sensitivity to CPI data may rise again. Currently, Bitcoin's daily chart is forming a classic "ascending wedge" pattern. If the price breaks below the critical support level of approximately $84,000, it may further test the $70,000 range; if it successfully breaks through the resistance of the 200-day moving average, it could open up an upward space between $90,000 and $95,000.