Bitcoin BTC trend has reached a critical moment, this indicator may set off a new historical high!
Key indicators for Bitcoin price increases
For most people, the rise and fall of Bitcoin prices seem irregular and unpredictable, but we reveal the key driving factors behind Bitcoin prices. Mastering these factors can accurately grasp the turning points and future trends of Bitcoin prices. Bitcoin prices were weak in January this year, soared in March, and fell into consolidation in the past two months - all of this is no coincidence. Only by understanding the truth behind it can you truly control market fluctuations!
Bitcoin's key turning point has arrived
Two weeks ago, Bitcoin's trend ushered in a key turning point!
Retail trading volume (taking the Korean market as an example) has been weak, which shows that most retail investors have not yet noticed the huge changes brewing in the Bitcoin market. They are likely to be troubled by the greedy emotions of FOMO (fear of missing out). We firmly believe that Bitcoin is about to break through a new historical high. This report and more upcoming information will help us convince readers that all this is about to become a reality!
In other words, Bitcoin's price trend depends largely on the performance of CPI - CPI is higher than last month, Bitcoin is bearish; CPI is lower than last month, Bitcoin is bullish.
As a result, Bitcoin prices fell from around $73,000 to $60,000. It was not until March 20 that the dovish remarks of Federal Reserve Chairman Powell stopped the decline. He assured the market that the Fed expects to cut interest rates three times in 2024.
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