Will the CPI report spark a Bitcoin 💥resurgence?!

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Gather ’round, crypto curious, for a tale of market predictions, inflation indicators, and the beloved Bitcoin! ���bit

Our daring hero, Markus Thielen, head of research at 10x Research, reckons that the upcoming US Consumer Price Index (CPI) might just surprise us all and trigger another BTC price rally! But, will it be enough to reach new heights?

“Expecting the unexpected” or “the calm before the storm”?! 😲

Most market participants anticipate a 2.9% year-on-year (YoY) inflation rate in the US Bureau of Statistics report. However, the US Truflation Inflation Index has dropped from 3.0% to 2.1%, hinting that inflation pressures might be easing faster than expected.

So, what does this mean for our dear friend Bitcoin? Well, if the CPI “surprises to the downside” at 2.7% or 2.8%, BTC might just see a relief rally!

Remember the good ol’ days in January when Bitcoin surged due to unchanged CPI? Ah, those were the times! But, alas, Trump’s tariffs put a damper on the party, and BTC’s price took a tumble.

To the moon or just a blip on the radar? 📈

If Bitcoin experiences another $10,000 rally, it’ll reach $105,491, just a hop, skip, and a jump away from its $109,000 all-time high!

At the time of writing, Bitcoin is trading at $95,490, down 2.65% over the past seven days. Will the CPI report be the spark that reignites the BTC flame? Only time will tell!

Into The CryptoVerse founder Benjamin Cowen ran a poll asking where Bitcoin’s price will go after the CPI release. With 51.7% of the 12,397 voters choosing “up,” there’s certainly a buzz in the air!

MN Capital founder Michaël van de Poppe even suggested that Bitcoin could hit new all-time highs within weeks! Oh, what a time to be alive!

So, buckle up, crypto fans! The CPI report might just bring the excitement we’ve all been waiting for! 🚀

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2025-02-12 09:48