{"id":21595,"date":"2024-05-30T13:00:11","date_gmt":"2024-05-30T10:00:11","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21595"},"modified":"2024-05-30T11:59:27","modified_gmt":"2024-05-30T08:59:27","slug":"bitcoins-future-hinges-on-us-inflation-slowdown-says-analyst","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoins-future-hinges-on-us-inflation-slowdown-says-analyst\/","title":{"rendered":"Bitcoin’s Future Hinges on US Inflation Slowdown, Says Analyst"},"content":{"rendered":"

According to a crypto analyst, Bitcoin<\/strong> will have to witness a slowdown in US inflation once results are published next month before it can start to think about exceeding its all-time highs attained in March.<\/p>\n

Impact of CPI on Bitcoin Prices<\/h1>\n

In a May 29 study ahead of the United States Bureau of Labor Statistics’ (BLS)<\/strong> publication of the Consumer Price Index (CPI) findings on June 12, Ten-x Research head researcher Markus Thielen said, “If inflation prints 3.3% or lower, Bitcoin should make a new all-time high.”<\/em><\/p>\n

This is a 0.1% point drop from the previous CPI<\/strong> figure, which came in at 3.4% on May 15. Thielen expects spot Bitcoin exchange-traded funds (ETF)<\/a> inflows to “remain strong”<\/em> in the two weeks leading up to the publication of the May CPI numbers.<\/p>\n

On the other hand, momentum may fade if CPI numbers show to be higher than projected, as seen this year.<\/p>\n

Since May 13, spot Bitcoin ETF<\/strong> inflows monitored by Farside Data have been positive daily over the previous two weeks, with the largest day of overall inflows on May 21 at $305.7 million.<\/p>\n

This Might Interest You:\u00a0<\/span>Spot Bitcoin ETFs See Steady Inflows as BlackRock\u2019s IBIT Leads the Way<\/em><\/a><\/p>\n

According to Thielen, Bitcoin’s<\/strong> price is not “random; it all comes down to critical drivers; inflation is the main driver.”<\/em><\/p>\n

Several times this year, the price of Bitcoin<\/strong> dropped after CPI readings exceeded predicted levels.<\/p>\n

The CPI came out printed on April 10 at 3.5%, only 0.1% over the projected level. A few weeks later, on April 30, Bitcoin’s price fell 6.67% to $56,000.<\/p>\n

Though there were $611 million in inflows on the first day, Thielen observed that when spot Bitcoin ETFs debuted on January 11, the remainder of January’s inflows were meager.<\/p>\n

He said that the primary cause of this was printed CPI numbers that were “higher than expected.”<\/em><\/p>\n

“The CPI came in at 3.4%, greater than the 3.2% expected number and higher than the 3.1% recorded in the previous month,”<\/em> Thielen said.<\/p>\n

He said, “It is no coincidence that Bitcoin was weak in January and stronger into March but consolidated for two months.”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

According to a crypto analyst, Bitcoin will have to witness a slowdown in US inflation once results are published next month before it can start to think about exceeding its all-time highs attained in March. Impact of CPI on Bitcoin Prices In a May 29 study ahead of the United States Bureau of Labor Statistics’<\/p>\n","protected":false},"author":6,"featured_media":18123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,1],"tags":[61,4932,287],"class_list":["post-21595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-genel","tag-bitcoin","tag-cpi","tag-futures"],"yoast_head":"\nBitcoin's Future Hinges on US Inflation Slowdown, Says Analyst<\/title>\n<meta name=\"description\" content=\"Bitcoin may reach new all-time highs if US inflation slows, predicts analyst Markus Thielen, with CPI results crucial to BTC's price trajectory.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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