Key HighlightsApril’s US CPI climbed to 3.8% annually, marking the steepest increase since May 2023Surging energy prices contributed over 40% of April’s monthly inflation gainBTC maintained support around $80,000 while facing rejection at the $82,000–$82,600 zoneThe 200-day simple moving average near $82,600 serves as a critical barrier for bullish momentumBitcoin ETFs recorded net outflows while the Coinbase Premium Index remained in negative territoryBitcoin maintained its position near the $80,000 mark on Tuesday following the release of April’s US Consumer Price Index, which registered 3.8% on a year-over-year basis. This represents the most elevated inflation reading since May 2023.Bitcoin (BTC) PriceThe month-over-month figure came in at 0.6%, aligning with analyst expectations. Meanwhile, the core CPI metric—which excludes volatile food and energy components—registered a 0.4% monthly gain and a 2.8% annual increase.BREAKING: April CPI inflation rises to 3.8%, its highest level since May 2023.Core CPI inflation also rose to 2.8%, above expectations of 2.7%.We are now experiencing post-pandemic inflation levels amid surging oil prices.Odds of Fed rate HIKES are surging.— The Kobeissi Letter (@KobeissiLetter) May 12, 2026Energy expenses dominated the inflation narrative. According to the Bureau of Labor Statistics, energy prices surged 3.8% in April alone, accounting for more than 40% of the overall monthly uptick. On a year-over-year basis, energy costs have soared nearly 18%.The persistent US-Iran military conflict and resulting constraints on global oil supplies continue to fuel these elevated energy prices.Market analyst Daan Crypto Trades noted on X that Bitcoin remains “still fighting the Daily 200MA/EMA and November lows,” describing this zone as “the level to break for the bulls to see further upside into the mid/high $80Ks.”$BTC Still fighting the Daily 200MA/EMA and November lows. This is the level to break for the bulls to see further upside into the mid/high $80Ks. pic.twitter.com/IpaTQHx5No— Daan Crypto Trades (@DaanCrypto) May 12, 2026BTC Trapped Between Critical Support and Resistance ZonesBitcoin fluctuated around $80,681 throughout the trading session, touching an intraday bottom near $80,415. Each rally toward $82,000 met with selling pressure that forced prices lower.Material Indicators, a prominent trading analytics platform, highlighted the 200-day SMA positioned near $82,600 as a formidable resistance barrier. The analysis suggested that bulls are attempting to establish a support base at $80,700 to mount another challenge at the upper boundary.Cryptocurrency analyst Michaël van de Poppe pointed to the 21-day SMA at $78,800 as an important technical threshold. He emphasized that $76,000 represents a critical support level that must hold, cautioning that a breakdown below this point could trigger a “substantially lower” price trajectory.The daily update on #Bitcoin.Essentially, there's still no change of momentum and trend.Clearly, the markets are heading upwards for more tests there. The 21-MA is a crucial level to look at. The $76K area is a crucial support zone that I fancy not to be breached, if that… pic.twitter.com/3Lof2VeWCk— Michaël van de Poppe (@CryptoMichNL) May 12, 2026The Coinbase Bitcoin Premium Index has persisted in negative territory throughout recent trading sessions. This metric generally indicates diminished demand from US-based spot buyers relative to international trading platforms.Bitcoin ETF Withdrawals and Federal Reserve Policy Concerns Weigh on SentimentSpot Bitcoin ETF products experienced capital outflows in recent sessions, diminishing near-term buying pressure from institutional channels.Treasury yields climbed following the inflation data release, while equity index futures declined as market participants recalibrated their interest rate forecasts. The Federal Reserve’s stated 2% inflation objective remains significantly below the current 3.8% measurement.The CME FedWatch Tool indicates that markets anticipate rates will remain unchanged through 2026 and potentially into the following year. However, according to The Kobeissi Letter, the probability of rate increases has been steadily climbing.Kevin Warsh’s nomination to chair the Federal Reserve advanced past a significant Senate checkpoint this week, introducing additional uncertainty into market dynamics.Bitcoin’s near-term direction hinges on whether demand can sustain the $80,000 level. A confirmed daily close above $82,000 would alleviate immediate downside pressure and potentially open the door for further gains.The post Bitcoin (BTC) Struggles at $80K as April CPI Surges to Three-Year Peak appeared first on Blockonomi.