Cryptocurrency

2024

Bitcoin

Impact

Coin

<ul class="wp-block-list news-points">
 <li><strong>The US Bureau of Labor Statistics will release its CPI data later today.</strong></li>
 <li><strong>Michael van de Poppe expects Bitcoin momentum after the CPI release.</strong></li>
 <li><strong>BTC could rally above $60K or drop to $49K, depending on the CPI outcome.</strong></li>
</ul>
<p>The US Bureau of Labor Statistics will release its Consumer Price Index (CPI) data later today. Cryptocurrency analyst Michael van de Poppe expects the upcoming figures to significantly affect crypto prices. In a recent post on X, the analyst noted that Bitcoin is currently following a path that could lead to a massive surge after the CPI figures are released.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> is following the path, expecting a lot of momentum to come after CPI and PPI.<br><br>Just a regular correction happening currently with CPI coming up.<br><br>We'll be good if $55-56K holds. <a href="https://t.co/Nk81DQyBDu" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Nk81DQyBDu</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1833769950949031980?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 11, 2024</a>
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<p>While Bitcoin has pulled back slightly this morning, Van de Poppe views this as a normal correction ahead of the event. He hopes the price holds around $55,000 to $56,000 until the CPI data is unveiled.</p>
<h2 class="wp-block-heading" id="h-cpi-a-key-economic-indicator">CPI: A Key Economic Indicator</h2>
<p>For context, the CPI measures the monthly change in prices paid by U.S. consumers for …</p>
<p>The post <a href="https://coinedition.com/bitcoin-on-the-cusp-of-a-breakout-analyst-predicts-cpi-impact/" rel="noopener noreferrer nofollow">Bitcoin on the Cusp of a Breakout: Analyst Predicts CPI Impact</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bitcoin on the Cusp of a Breakout: Analyst Predicts CPI Impact

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