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Bitcoin (BTC) Poised for Surge Amid Hopes of US Inflation Slowdown
The post Bitcoin (BTC) Poised for Surge Amid Hopes of US Inflation Slowdown appeared on BitcoinEthereumNews.com. Bitcoin’s potential to break its all-time high depends on a decrease in US inflation next month. Crypto analyst Markus Thielen of 10x Research suggests that if the US Consumer Price Index (CPI) is at 3.3% or lower, Bitcoin could surpass its historical peak. Thielen emphasized that Bitcoin price movements are significantly influenced by crucial factors, primarily inflation. Discover how US inflation trends could impact Bitcoin’s potential to break its all-time high, with insights from crypto analyst Markus Thielen. What’s Happening on the Bitcoin Front? Bitcoin’s potential to break its all-time high depends on a decrease in US inflation next month, according to crypto analyst Markus Thielen of 10x Research. In a recent report, Thielen stated that if the US Consumer Price Index (CPI) is at 3.3% or lower, Bitcoin could surpass its historical peak. A minor 0.1-point drop from the last CPI figure of 3.4% on May 15 is crucial, Thielen noted. He anticipates significant spot Bitcoin exchange-traded fund (ETF) inflows in the two weeks leading up to the May CPI announcement. However, if inflation rates exceed expectations, Bitcoin’s momentum could falter, a pattern observed earlier this year. Since May 13, Bitcoin ETF inflows have consistently been positive, with May 21 recording the highest single-day inflow at $305.7 million, according to Farside data. Thielen emphasized that Bitcoin price movements are not random and are significantly influenced by crucial factors, primarily inflation. Macroeconomic Data and Bitcoin On April 10, the CPI was reported at 3.5%, slightly above expectations. Consequently, Bitcoin’s price dropped by 6.67% to $56,000 on April 30. Despite impressive inflows of $611 million on January 11, the rest of January saw disappointing figures. Thielen attributes this trend to higher-than-expected CPI results. He explained that Bitcoin’s performance in different months of the year has been closely tied to CPI results,…
The post Bitcoin (BTC) Poised for Surge Amid Hopes of US Inflation Slowdown appeared on BitcoinEthereumNews.com.
Bitcoin’s potential to break its all-time high depends on a decrease in US inflation next month. Crypto analyst Markus Thielen of 10x Research suggests that if the US Consumer Price Index (CPI) is at 3.3% or lower, Bitcoin could surpass its historical peak. Thielen emphasized that Bitcoin price movements are significantly influenced by crucial factors, primarily inflation. Discover how US inflation trends could impact Bitcoin’s potential to break its all-time high, with insights from crypto analyst Markus Thielen. What’s Happening on the Bitcoin Front? Bitcoin’s potential to break its all-time high depends on a decrease in US inflation next month, according to crypto analyst Markus Thielen of 10x Research. In a recent report, Thielen stated that if the US Consumer Price Index (CPI) is at 3.3% or lower, Bitcoin could surpass its historical peak. A minor 0.1-point drop from the last CPI figure of 3.4% on May 15 is crucial, Thielen noted. He anticipates significant spot Bitcoin exchange-traded fund (ETF) inflows in the two weeks leading up to the May CPI announcement. However, if inflation rates exceed expectations, Bitcoin’s momentum could falter, a pattern observed earlier this year. Since May 13, Bitcoin ETF inflows have consistently been positive, with May 21 recording the highest single-day inflow at $305.7 million, according to Farside data. Thielen emphasized that Bitcoin price movements are not random and are significantly influenced by crucial factors, primarily inflation. Macroeconomic Data and Bitcoin On April 10, the CPI was reported at 3.5%, slightly above expectations. Consequently, Bitcoin’s price dropped by 6.67% to $56,000 on April 30. Despite impressive inflows of $611 million on January 11, the rest of January saw disappointing figures. Thielen attributes this trend to higher-than-expected CPI results. He explained that Bitcoin’s performance in different months of the year has been closely tied to CPI results,…
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