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👇1-16) Last month, just before the U.S. inflation data were released, Bitcoin was trading at $96,000. In January, expectations for a third consecutive month of rising CPI set the bar at 2.9% YoY, confirmed when the data was released. This relieved the market, triggering a $10,000 Bitcoin rally over the next week—until Trump’s tariff announcement halted the momentum.
Bitcoin trading into a narrowing wedge with $95,000 support
👇2-16) The market again expects a 2.9% YoY CPI in today’s inflation report. However, there is a real possibility of a lower print, which could ignite another rally attempt. Notably, the U.S. Truflation inflation index has declined from 3.0% to 2.1%, suggesting that inflation pressures may be easing faster than expected. If CPI surprises to the downside at 2.7% or 2.8%, Bitcoin could see a relief rally.