Core

Bitcoin

Read

<p>The post <a href="https://coinpedia.org/news/bitcoin-on-edge-crypto-rating-firm-predicts-market-turbulence-ahead-of-cpi-release/" rel="noopener noreferrer nofollow">Bitcoin on Edge: Crypto Rating Firm Predicts Market Turbulence Ahead of CPI Release&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>As the US prepares to release key inflation data, Matthew Dixon, CEO of Evai, warns of significant market volatility. With Bitcoin teetering near its all-time high, crypto traders and investors are bracing for potential major price swings. Read on to discover what Dixen’s insights could mean for Bitcoin and the broader cryptocurrency market.&nbsp;</p>
<h2 class="wp-block-heading" id="h-crypto-market-fear-ahead-of-us-cpi-release-nbsp">Crypto Market Fear Ahead of US CPI Release&nbsp;</h2>
<p>Matthew Dixon recently took to the X platform to highlight the palpable fear in the markets, particularly evident in Bitcoin.&nbsp;</p>
<figure class="wp-block-image size-full"><img decoding="async" width="900" height="615" src="https://image.coinpedia.org/wp-content/uploads/2024/06/11121902/BTC-Price.png" alt="" class="wp-image-314625" srcset="https://image.coinpedia.org/wp-content/uploads/2024/06/11121902/BTC-Price.png 900w, https://image.coinpedia.org/wp-content/uploads/2024/06/11121902/BTC-Price-300x205.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/06/11121902/BTC-Price-768x525.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/06/11121902/BTC-Price-220x150.png 220w, https://image.coinpedia.org/wp-content/uploads/2024/06/11121902/BTC-Price-150x103.png 150w" sizes="(max-width: 900px) 100vw, 900px">
</figure>
<p>He noted that the upcoming Consumer Price Index release on June 12th could drive BTC to new ATH or push it further down, continuing its recent correction phase. Dixon remains optimistic about the long-term outlook, expecting a new ATH soon.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">There is palpable FEAR in the markets (even evident in <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> here) ahead of <a href="https://twitter.com/hashtag/CPI?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CPI</a> numbers tomorrow.<br>A miss on expectations either way can drive <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to new ATH OR continue the correction towards the Y wave below.<br>Long term outlook is still +ve though and new ATH should come soon. <a href="https://t.co/uZMEtglkDX" rel="noopener noreferrer nofollow">pic.twitter.com/uZMEtglkDX</a></p>— Matthew Dixon – CEO Evai (@mdtrade) <a href="https://twitter.com/mdtrade/status/1800379818711949480?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-us-cpi-and-its-impact-on-bitcoin-nbsp">US CPI and Its Impact on Bitcoin&nbsp;</h2>
<p>The CPI measures the average change in prices paid by urban consumers for a basket of goods and services. It is a key indicator of inflation. Higher-than-expected CPI readings can lead to increased interest rates as central banks attempt to control inflation, which often affects various investment markets, including cryptocurrencies. The CPI median forecast is 0.1%, while the CPI Year-Over-Year forecast is 3.4%. The Core CPI, which excludes volatile food and energy prices, has a median forecast of 0.3% monthly and 3.5% year-over-year. These forecasts are slightly lower than the previous month’s data: CPI was 0.3%, CPI Year-Over-Year was 3.4%, Core CPI was 0.3%, and Core CPI Year-Over-Year was 3.6%.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bitcoin-market-performance-an-overview-nbsp">Bitcoin Market Performance: An Overview&nbsp;</h2>
<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> is currently priced at $67,840.10, with a 30-day change of +11.2%. It is close to its peak of $73,000. Since the Bitcoin halving in April, BTC has been highly volatile, making several attempts to break its ATH.&nbsp;</p>
<p>Despite the short-term uncertainty, Dixon believes the long-term outlook for Bitcoin remains positive, with a new ATH on the horizon. The upcoming CPI date release is crucial for understanding inflation trends and anticipating Bitcoin’s market movements. Whether the data meets expectations or not, it is likely to have a significant impact on <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC’s price</a>.&nbsp;</p>
<p>Stay tuned with Coinpedia to see how these developments unfold and prepare for potential market shifts! Follow us for more updates on Bitcoin and cryptocurrency trends!&nbsp;&nbsp;</p>
<p>Also Read: <a href="https://coinpedia.org/news/can-these-high-potential-altcoins-make-you-rich-in-just-60-days-analyst-says-yes/" rel="noopener noreferrer nofollow">Can These High Potential Altcoins Make You Rich in Just 60 Days? Analyst Says ‘Yes’</a></p>

Bitcoin on Edge: Crypto Rating Firm Predicts Market Turbulence Ahead of CPI Release

Table of Contents

CoinPedia News

Other articles published on Jun 11, 2024

BRETT crypto hits new ATH, then dips – But wait, there’s more!

Analysts Comment on Bitcoin Price Drop

Analyst Predicts Bearish Trends for PEPE, SHIB, and FLOKI Amid Market Slump

Crypto: Here’s how Apple is destroying AI-linked tokens!

Will the SEC Approve Spot Ethereum ETFs Today? Key Details Inside

Are Traders Bearish on Bitcoin Amid the Current Market Collapse?

Join our free newsletter for daily crypto updates!