Summary
- Bitcoin network economist Timothy Peterson analyzed that after the US-China trade negotiations, the VIX index fell, creating a positive situation for Bitcoin prices.
- Experts stated that the rise in the US April Consumer Price Index (CPI) falling short of expectations could act favorably for Bitcoin's rise.
- The increased possibility of a Federal Reserve rate cut also provides a positive environment for Bitcoin.
An analysis has emerged that the current market situation is favorable for Bitcoin (BTC).
According to the cryptocurrency specialized media Cointelegraph on the 13th (local time), Timothy Peterson, a Bitcoin network economist, analyzed that "after the trade negotiations between the US and China concluded on the 12th, the Chicago Board Options Exchange (CBOE) Volatility Index (VIX), known as Wall Street's fear gauge, fell from its peak of 60 earlier this year to 20," and "Bitcoin's price is also maintaining above $100,000."
Peterson added, "As the VIX index remains stable, the risk-taking atmosphere is expected to continue for the time being."
Meanwhile, Cointelegraph also predicted that the US April Consumer Price Index (CPI) announced the previous day could positively impact Bitcoin's strength. According to the US Department of Labor, the US CPI in April rose by 2.3% compared to the same month last year. This is below the expert forecast of 2.4% compiled by Dow Jones. Cointelegraph predicted, "As the US April CPI recorded its lowest level since February 2021, the increased possibility of a Federal Reserve rate cut is also a favorable environment for Bitcoin."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
