A widely followed crypto trader believes that today and tomorrow’s price action for Bitcoin (BTC) are of major importance.
Crypto analyst Michaël van de Poppe tells his 661,300 Twitter followers that BTC’s price action will be determined by the US’s personal consumption expenditure (PCE) and gross domestic product (GDP) numbers, both released today.
“Bitcoin rejects at the crucial area at $29,700.
Today and tomorrow are more important.
GDP & PCE.
If numbers are fine, we’ll blast through $30,000, but in order to do that, I wouldn’t be surprised by taking the lows.”
Source: Michaël van de Poppe/Twitter
According to Van de Poppe, the GDP numbers came back more positive than expected. The trader expects BTC to rally if the PCE numbers are also positive.
“GDP comes out way more positive than expected.
That’s great. Soft landing case starts to pick up pace. If GDP was worse than expected, you’d see markets drop.
Bitcoin steady, stocks steady.
Now PCE better than
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