Grayscale’s head of research, Zach Pandl, made a significant statement on August 14, stating that inflation rates could have a positive impact on Bitcoin’s price. Pandl predicted that low inflation rates could pave the way for Bitcoin to retest all-time highs.

As volatility increases in the crypto market, notable developments continue to come to the forefront rapidly. Grayscale’s head of research, Zach Pandl, said on August 14 that lower-than-expected core inflation in the US could start a process that could allow Bitcoin to retest its ATH (all-time high) levels.

The US Bureau of Labor Statistics (BLS) released the July Consumer Price Index (CPI) data on August 14, showing an annual price increase of 2.9%. This rate is recorded as the lowest value since 2021. Pandl drew attention to the importance of this data, stating that it will allow the Fed to start cutting interest rates, adding: “Interest rate cuts could be a necessary condition for continued weakness in the US dollar and could provide a basis for Bitcoin to reach all-time highs. This positive data could be a signal for crypto investors to cut interest rates sooner.”

The results fell short of market expectations, suggesting the U.S. Federal Reserve can continue to cut interest rates without fear of unduly affecting consumer prices. Recession concerns in the U.S. have been heightened since the BLS reported on Aug. 2 that the unemployment rate rose to a three-year high of 4.3%.

The futures market is currently pricing in expectations of a rate cut of at least a quarter at the Federal Reserve’s September meeting, according to CME FedWatch data, with interest rates currently targeted at around 5.5%.

Bitcoin’s reaction to the report was fairly lukewarm. Bitcoin rose to around $62,000 following the news, but fell more than 3% in the following hour, according to TradingView data.

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