Connect with us

Published

on

Follow Us

Follow Us @

Bitcoin Price Strengthens Limitedly, Investors Pay Attention to the Fed's Steps

Fyqieh revealed Bitcoin could reach a new all-time high if inflation in the United States, as measured by CPI data, slows enough. If inflation reaches 3.3% or lower, Bitcoin could potentially reach a new all-time high.

US CPI data will be released on June 12. CPI in May was recorded at 3.4%, a slight decrease from the previous month. However, this figure is still too high to allow a significant increase in Bitcoin. In the two weeks leading up to the May data release, inflows into Bitcoin ETFs remained strong on expectations of lower inflation.

Advertisement

If the CPI results exceed expectations, the momentum could weaken, as happened at the start of this year. If June CPI comes in below estimates, this could boost investor confidence and trigger a new wave of BTC buying,”

“Lower inflation not only supports Bitcoin but also increases the perception of digital assets as a hedge against inflation,” he concluded.

The Crypto Fear & Greed Index sentiment shows the Greed level at 73 points, a slight decrease from last week which was at 74 points.

Despite a small dip in optimism, the crypto market is still in a fairly bullish phase. Investors appear to remain confident despite some price fluctuations, signaling confidence that the long-term uptrend will continue.

Advertisement

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

Bitcoin Price Strengthens Limitedly, Investors Pay Attention to the Fed's Steps

Follow TODAYSGIST on Google News  and receive alerts for the main trending news on cryptocurrency, market trends, upcoming events, predictions, sanctions and lots more!

SHARE POST AND EARN REWARDS:

Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program

Advertisement

FIRST TIME REACTIONS:

Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.

JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >

#Bitcoin #Price #Strengthens #Limitedly #Investors #Pay #Attention #Fed39s #Steps
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending