Orbit

Light

United

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-steady-recovery-post-us-cpi-surprise" rel="noopener noreferrer nofollow">Bitcoin’s Steady Recovery Post US CPI Surprise</a><br></p>
<p style="text-align: justify">The United States recently published its January Consumer Price Index (CPI), which indicated a 3.1% increase, surpassing forecasts of 2.9%. This unexpected inflation surge led to a significant downturn in the stock market, with the S&amp;P 500 Index dropping by 1.4%, its poorest performance on a CPI announcement day since September 2022. <a href="https://en.bitcoinhaber.net/el-salvadors-president-secures-reelection-with-dominant-victory" rel="noopener noreferrer nofollow">Bitcoin</a> also underwent a price drop following the release but demonstrated a swift recovery, hinting at its robustness amidst market volatility.</p>
<h2 id="bitcoin-s-quick-rebound-raises-eyebrows">Bitcoin’s Quick Rebound Raises Eyebrows</h2>
<p style="text-align: justify">Despite initial price drops, Bitcoin stood firm and bounced back, holding steady compared to the overall market’s reaction to the inflation news. Analyst Tony Sycamore of IG Australia Pty praised Bitcoin’s remarkable persistence in face of the risk-off sentiment in global markets. Nevertheless, he cautioned that Bitcoin may still experience a correction, potentially falling below the $40,000 mark.</p>
<p style="text-align: justify">Investors are also focusing on the upcoming Bitcoin halving scheduled for April, an event historically associated with price surges due to the reduction in miner rewards. Market experts, including Caroline Mauron of Orbit Markets, anticipate a brief market lull before the halving dominates market narratives and potentially triggers a rally.</p>
<h2 id="investor-sentiment-in-light-of-recent-btc-drops">Investor Sentiment in Light of Recent BTC Drops</h2>
<p style="text-align: justify">Following the latest price dip, data provider Santiment observed a division among Bitcoin investors. Analysts suggest that any further price declines could significantly shift sentiment, encouraging bargain hunting amid the sell-off. This scenario, if realized, may lead to increased uncertainty among investors and prompt those less confident to offload their Bitcoin holdings swiftly.</p>
<p style="text-align: justify">Santiment’s analysis of CPI report impacts over the past three months indicates that these announcements tend to align with notable shifts in the cryptocurrency market’s dynamics. At present, Bitcoin has managed to climb back to the $49,600 level, with investor sentiment appearing to regain stability post the initial shock.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-steady-recovery-post-us-cpi-surprise" rel="noopener noreferrer nofollow">Bitcoin’s Steady Recovery Post US CPI Surprise</a></h5>

Bitcoin’s Steady Recovery Post US CPI Surprise

Obsah

BH NEWS

Ďalšie články zverejnené 14. 2. 2024

INJ Surges by Over 1000%; AVAX Jumps Above $40

Record Prediction for This China-Based Altcoin from an Experienced Analyst!

Blackrock Bitcoin ETF Secures Top 7% Size Ranking in the ETF Market

Torrevieja Steps Into Crypto World Adopts Crypto Payments

Bitcoin (BTC) Futures Open Interest Surges to 26-Month High

Blockchain Festival and Traders Fair 2024: Shaping the Future of Finance and Blockchain in Singapore

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!