Bitcoin BTC$103,962.88 Soon it could reach maximum record prices, which triggers accelerated profits in the broader market of Altcoins, since the ease of commercial tensions of US-China can see markets react positively to a potential slowdown in the April CPI that expires this week.
The United States has reached a commercial agreement with China after two days of high -level negotiations in Geneva, the United States Treasury Secretary, Scott Besent and commercial representative Jamieson Greer announced Sunday. Both countries will issue a joint statement about gin conversations later on Monday.
The commercial agreement occurs after weeks of a commercial war of Tit-for Tat that saw both countries increase import tariffs above 100%, threatening to inject inflation into the global economy. As such, the positive consumer price inflation data on the EE.
The Bears, however, can no longer make that argument, thanks to the commercial agreement.
Therefore, continuous IPC softening could increase the Fed Rate Reduction bets, providing a bullish catalyst for a BTC rally to record maximum higher than $ 110,000. On the other hand, a hotter IPC than expected could be discarded as an aspect backwards, reflecting April tariffs and not considering rediscaling in commercial tensions.
The IPC expanding on Tuesday is expected to show that the cost of living decreased to 2.3% year -on -year in April from 2.4% in March, according to RBC. The central ICC, which excludes food and energy, is expected to remain in 2.8% year after year in April, in continuous moderation in income inflation.
According to 10x Research, the consensus is that the main CPI probably remained unchanged at 2.4% in April.
“If this expectation is maintained, the market can see the inflation report as positive. Except for any headliners, the inflation data of this week could provide a bullish catalyst,” said Markus Thielen, founder of 10x Research, Coindeesk.
“The CPI could be bullish and can bring new maximums of all time,” Thien added.
Bitcoin, the leading cryptocurrency for market value, changed hands to about $ 104,000, only 5.1% of reaching new maximums exceeding $ 109,350, as shown by Coindesk data.
BTC has had a V -shaped recovery of $ 75,000 since the beginning of April, with the prices that increased 10% last week due to continuous tickets in the funds quoted in exchange (ETF).
Blackrock’s Bitcoin ETF Spot (Ibit) has registered net tickets for 20 consecutive negotiation days, accumulating more than $ 5 billion in investor money, according to Sosovalue’s data. Last week, the Federal Reserve maintained the cost of reference loans without changes in the range of 4.25% to 4.5%, while reiterating the data -dependent posture on potential rate cuts. President Jerome Powell, however, offered deceptive suggestions, saying that “the underlying inflation image is good”, while calling the inflationary impact of short -term tariffs.
Ether, the second largest cryptocurrency due to market value, increased 39% to $ 2,500 last week, the best yield since December 2020, according to TrainingView. Other important alternatives such as XRP, Doge, ADA and Sol increased 9.7%, 56%, 19%and 20%, respectively.
According to HTX Research, there are still no signs of speculative frenzy, which means that the rally could continue.
“The implicit volatility (IV) in the Bitcoin options remains stable in the 50%–55%range, well below the extreme levels of 80%+ typically seen in the peak of the previous bullish markets. CME Bitcoin Futures Open Intens It indicates that it is still manageable in the HTX investigation, “HTX research is said.
“As long as the yields do not rise above 4.8% and ETF tickets remain stable, Bitcoin is likely to consolidate in the $ 105,000- $ 115,000 range while waiting for the next trigger for rupture,” HTX added.
