Analyst Says that the Data That Will Take Bitcoin to a New Peak Will Come from the USA!

10x Research chief researcher Markus Thielen explained the factor that will take Bitcoin (BTC) to the top.

In a recent report, Markus Thielen focused on data that could push the Bitcoin price to the top. He noted that if the US inflation data comes in at 3.3% or lower, Bitcoin will rise to its all-time high (ATH):

If inflation turns out to be 3.3% or lower, Bitcoin should hit an all-time high.

The USA recorded a data of 3.4% in the inflation report announced on May 15. The next inflation data will be announced on June 12, and according to Thielen, even just a 0.1% decline in inflation could start a new upward wave for the cryptocurrency market.

On the other hand, Thielen, who included an opposite situation in his scenario, noted that if the inflation data is higher than expected, all risk products, including the cryptocurrency market, may experience a serious loss of value.

The US Federal Reserve (FED), which has been waiting for inflation to decrease for a long time, has stated that it will cut interest rates only if this condition is met.