The Bitcoin price hit a three-month high at $19,104 yesterday. After the Consumer Price Index (CPI) for December 2022 was announced at 6.5% as expected, the market initially reacted cautiously and showed a pullback to below $17,900. However, the bulls took over after that and posted the biggest daily candle in over 6 months.
However, caution is advised. Investors should ask themselves if this is a bull trap or really the beginning of a new bull run. To assess this, experts are currently recommending various data points.
The Fed Rules It All
With December CPI data being in the books, the focus turns to February 1, when the Fed’s next FOMC meeting is scheduled to take place. And according to the FEDWatch tool, experts’ projections are exceedingly bullish. A whopping 94% expect the Fed to continue to scale back its rate hike pace and only add 25 bps.
On that note, Carl Quintanilla, a journalist for CNBC and NBC News, points to a Fundstrat Global Advisors analysis that “a whopping 59
We współpracy z: https://bitcoinist.com/bitcoin-price-keep-pumping-watch-this-now/
