Bitcoin Price in Danger as it Nears $27K, But 'Bullish Cross' on the Horizon

Bitcoin (BTC) price was at $27,197 and falling towards $27,000 on May 11th, as bullish activity was weak.

Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked losing more support.

Many market participants prepared downside targets, with some focusing on the area around $25,000.

Traders remain cautious, waiting for bulls to retake daily open before considering a possible reversal scenario.

Trader and analyst Moustache remained bullish, citing the SMA 20/200 about to cross bullishly.

Encouraging US Producer Price Index (PPI) and unemployment data gave crypto investors cause for cautious celebration.

The odds were on for interest rates to stop rising in June, with market consensus for a June rate hike pause at over 96%.