Editor's PiCK
[Analysis] U.S. January CPI 'Under Scrutiny'... "Bitcoin Rally if Below Expectations"
Summary
- It was stated that if the U.S. January CPI falls below expectations, Bitcoin could rise.
- It was reported that if the CPI records 2.7-2.8%, Bitcoin could rebound.
- It was reported that if the January CPI figure is announced as 2.9%, the same as December, Bitcoin prices could surge.
An analysis has emerged suggesting that if the U.S. January Consumer Price Index (CPI) falls below expectations, Bitcoin (BTC) could return to an upward trend.
Marcus Thielen, Head of Research at U.S. crypto analysis firm 10x Research, stated in a report on the 11th (local time), "The market is expecting a 2.9% CPI for January," and "If the CPI falls below expectations, it could trigger a rise in Bitcoin prices." Thielen noted, "Inflation pressures are easing faster than expected," and "If the January CPI records 2.7-2.8%, Bitcoin could see a rebound rally."
Thielen focused on the factors behind Bitcoin's rise last month. He analyzed, "The reason for Bitcoin's price increase in January was the CPI figure that deviated from market expectations," and "With the same figure (2.9%) announced as in December, Bitcoin's price surged by $10,000 and surpassed $100,000."
Meanwhile, the U.S. Bureau of Labor Statistics will announce last month's CPI at 10:30 PM Korean time today.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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