{"id":652850,"date":"2024-11-13T14:00:17","date_gmt":"2024-11-13T14:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=652850"},"modified":"2024-11-13T09:54:16","modified_gmt":"2024-11-13T09:54:16","slug":"analyst-warns-of-10-bitcoin-price-drop-ahead-of-cpi-data","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/analyst-warns-of-10-bitcoin-price-drop-ahead-of-cpi-data\/","title":{"rendered":"Analyst Warns Of 10% Bitcoin Price Drop Ahead Of CPI Data"},"content":{"rendered":"

Recently, there have been significant fluctuations in the prices of Bitcoin<\/a>; presently, they oscillate between $87,000-$87,500. This may not be eye candy to investors who are currently on the sidelines waiting for the coin to hit $90k, particularly the release of CPI data set today, November 13.<\/span> This news is perceived by analysts to have a considerable influence on market sentiment and the expected direction of the alpha crypto asset.
\n<\/span><\/p>\n

Related Reading: XRP Price Patterns And 2024 Election Spark Talk Of A New Rally<\/a><\/div>\n

The Barometer For Inflation<\/h2>\n

Reflecting changes in the prices consumers pay for goods and services, the CPI report<\/a> is a main indication of inflation. Expectations about the CPI can cause more volatility in the bitcoin markets as inflation rates affect the Federal Reserve’s choices on monetary policy.<\/p>\n

Recent trends imply that should inflation remain lowered, the Federal Reserve might cut interest rates\u2014historically this has had a positive effect on Bitcoin prices. Reduced borrowing rates sometimes inspire investment in risky assets such as cryptocurrencies, hence increasing demand for Bitcoin.<\/p>\n

\n

#Bitcoin<\/a> is up to $90,000 and I think we’re about to get started with the markets.<\/p>\n

The sweet spot is having a 10% correction towards the CME gap before we continue.<\/p>\n

I’m slightly bearish going into CPI tomorrow. pic.twitter.com\/dfpUc2df1k<\/a><\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) November 12, 2024<\/a><\/p><\/blockquote>\n

\"\"<\/p>\n

Growing Investor Trust<\/h2>\n

Famous crypto expert Micha\u00ebl van de Poppe, the founder of MNConsultancy, said that the current state of affairs in the crypto market corresponds well to the positive assessment of Bitcoin. In case CPI statistics<\/a> would indicate more cases of inflation drops, he says that this would lead to growing investor trust and higher capital inflows into Bitcoin and other cryptocurrencies.<\/p>\n

\"\"
BTC market cap currently at $1.73 billion. Chart: TradingView.com<\/a><\/figcaption><\/figure>\n

Will Bitcoin Retrace?<\/h3>\n

He also cautions, though, that unanticipated inflation rises could surprise markets and cause pricing adjustments all around. He anticipates a 10% Bitcoin retracement prior to the release of CPI data, targeting a range of $75,660 to $81,193.<\/p>\n

Market Reactions And Predictions<\/h3>\n

As traders get ready for the CPI figures, the general market mood remains mixed. Some experts think that positive CPI numbers could lead to a rise in Bitcoin prices, but others say that people shouldn’t get too excited.<\/p>\n

Meanwhile, many investors are still optimistic about the long-run prospects of Bitcoin. The incoming administration of newly-elected US President Donald Trump adds another layer of complexity to market dynamics.<\/p>\n

Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot<\/a><\/div>\n

According to Van de Poppe, short-term regulatory actions will benefit Bitcoin, but their long-run consequences might be something more complex if control for inflation is not handled well.<\/p>\n

\"\"
BTC up in the last week. Source: Coingecko<\/a><\/figcaption><\/figure>\n

Meanwhile, as Bitcoin continues in its path for a major price discovery, the focus will be on the CPI data and the impact they have on digital assets. Such an unpredictable environment should be approached with caution by investors while they remain focused on economic events that could swing their investments.<\/p>\n

At the time of writing, Bitcoin was trading at $87,509<\/a>, up 2.1% and 17.2% in the daily and weekly timeframes, data from Coingecko shows.<\/p>\n

Featured image from The VR Soldier, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, there have been significant fluctuations in the prices of Bitcoin; presently, they oscillate between $87,000-$87,500. This may not be eye candy to investors who are currently on the sidelines waiting for the coin to hit $90k, particularly the release of CPI data set today, November 13. This news is perceived by analysts to have a considerable influence on market sentiment and the expected direction of the alpha crypto asset. Related Reading: XRP Price Patterns And 2024 Election Spark Talk Of A New Rally The Barometer For Inflation Reflecting changes in the prices consumers pay for goods and services, the CPI report is a main indication of inflation. Expectations about the CPI can cause more volatility in the bitcoin markets as inflation rates affect the Federal Reserve’s choices on monetary policy. Recent trends imply that should inflation remain lowered, the Federal Reserve might cut interest rates\u2014historically this has had a positive effect on Bitcoin prices. Reduced borrowing rates sometimes inspire investment in risky assets such as cryptocurrencies, hence increasing demand for Bitcoin. #Bitcoin is up to $90,000 and I think we’re about to get started with the markets. The sweet spot is having a 10% correction towards the CME gap before we continue. I’m slightly bearish going into CPI tomorrow. pic.twitter.com\/dfpUc2df1k \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) November 12, 2024 Growing Investor Trust Famous crypto expert Micha\u00ebl van de Poppe, the founder of MNConsultancy, said that the current state of affairs in the crypto market corresponds well to the positive assessment of Bitcoin. In case CPI statistics would indicate more cases of inflation drops, he says that this would lead to growing investor trust and higher capital inflows into Bitcoin and other cryptocurrencies. Will Bitcoin Retrace? He also cautions, though, that unanticipated inflation rises could surprise markets and cause pricing adjustments all around. He anticipates a 10% Bitcoin retracement prior to the release of CPI data, targeting a range of $75,660 to $81,193. Market Reactions And Predictions As traders get ready for the CPI figures, the general market mood remains mixed. Some experts think that positive CPI numbers could lead to a rise in Bitcoin prices, but others say that people shouldn’t get too excited. Meanwhile, many investors are still optimistic about the long-run prospects of Bitcoin. The incoming administration of newly-elected US President Donald Trump adds another layer of complexity to market dynamics. Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot According to Van de Poppe, short-term regulatory actions will benefit Bitcoin, but their long-run consequences might be something more complex if control for inflation is not handled well. Meanwhile, as Bitcoin continues in its path for a major price discovery, the focus will be on the CPI data and the impact they have on digital assets. Such an unpredictable environment should be approached with caution by investors while they remain focused on economic events that could swing their investments. At the time of writing, Bitcoin was trading at $87,509, up 2.1% and 17.2% in the daily and weekly timeframes, data from Coingecko shows. Featured image from The VR Soldier, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":652858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,1119,1144,86356,6664,9848],"class_list":["post-652850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btc","tag-btcusd","tag-cpi-data","tag-crypto","tag-trump"],"acf":[],"yoast_head":"\nAnalyst Warns Of 10% Bitcoin Price Drop Ahead Of CPI Data<\/title>\n<meta name=\"description\" content=\"Recently, there have been significant fluctuations in the prices of Bitcoin; presently, they oscillate between $87,000-$87,500. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analyst Warns Of 10% Bitcoin Price Drop Ahead Of CPI Data","url":"http:\/\/wncen.com\/news\/bitcoin\/analyst-warns-of-10-bitcoin-price-drop-ahead-of-cpi-data\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/analyst-warns-of-10-bitcoin-price-drop-ahead-of-cpi-data\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/A_8d4a51.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/A_8d4a51.png?fit=686%2C342"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","cpi data","crypto","trump"],"dateCreated":"2024-11-13T14:00:17Z","datePublished":"2024-11-13T14:00:17Z","dateModified":"2024-11-13T14:00:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Warns Of 10% Bitcoin Price Drop Ahead Of CPI Data\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/analyst-warns-of-10-bitcoin-price-drop-ahead-of-cpi-data\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/analyst-warns-of-10-bitcoin-price-drop-ahead-of-cpi-data\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/A_8d4a51.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/A_8d4a51.png?fit=686%2C342\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"cpi data\",\"crypto\",\"trump\"],\"dateCreated\":\"2024-11-13T14:00:17Z\",\"datePublished\":\"2024-11-13T14:00:17Z\",\"dateModified\":\"2024-11-13T14:00:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/A_8d4a51.png?fit=686%2C342","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=652850"}],"version-history":[{"count":8,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652850\/revisions"}],"predecessor-version":[{"id":652860,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652850\/revisions\/652860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/652858"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=652850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=652850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=652850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}