Spike

United

<ul class="news-points">
 <li><strong>Bitcoin’s price reacted sharply to the upcoming CPI report.</strong></li>
 <li><strong>Experts predict the CPI report could significantly impact crypto prices.</strong></li>
 <li><strong>Bitcoin’s recent dip has been met with both skepticism and optimism from analysts.</strong></li>
</ul>
<p>The United States awaits the release of the May 2024 Consumer Price Index (CPI) report, and blockchain analysis platform Santiment predicts Bitcoin (BTC) to react strongly.</p>
<p>In an X (formerly Twitter) post, Santiment stated that experts forecast a 3.4% year-over-year or 0.3% month-over-month increase for the US CPI, due on June 12th at 12:30 pm UTC.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d1-200d-1f4bc.png" alt="🧑‍💼" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> The May 2024 Consumer Price Index (CPI) report is scheduled to be released tomorrow (June 12th) at 12:30pm UTC (11 hours from now). Current experts expect a 3.4% YoY or 0.3% MoM increase…<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;"> If lower, it's a signal that inflation is slowing, increasing the likelihood of… <a href="https://t.co/GDFWguyRbo" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/GDFWguyRbo</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1800679538118250578?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 12, 2024</a>
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<p>Santiment noted, “If actual numbers are lower than expected, it signals slowing inflation, likely boosting crypto prices. If numbers are higher, it signals persistent inflation concerns, likely causing crypto to drop.”</p>
<p>The post <a href="https://coinedition.com/bitcoin-price-takes-a-tumble-but-buy-the-dip-calls-spike/" rel="noopener noreferrer nofollow">Bitcoin Price Takes a Tumble, But ‘Buy the Dip’ Calls Spike</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bitcoin Price Takes a Tumble, But ‘Buy the Dip’ Calls Spike

Coin Edition

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