The Bitcoin market is on high alert, waiting for the crucial U.S. inflation data and bond market signals to be released on Thursday. The expectations are that the inflation rate will rise, which could lead to Federal Reserve rate cuts, boosting the prospects for risk assets like Bitcoin. However, the recovery of Bitcoin has stalled, and its price is struggling to break above $59,000.
The Treasury yield curve is also being closely watched, as a "steepening" of the curve could impact market sentiment and potentially lead to a recession. Historically, such periods have been accompanied by economic contractions and risk aversion, which could affect Bitcoin's performance.
Experts are divided on the implications, but one thing is certain - the upcoming data release will have a significant impact on the market. Will Bitcoin break out of its current slump, or will it continue to struggle? Only time will tell.
