🚨🚨Attention Alert 🚨🚨
📊 What to Expect From Bitcoin Ahead of US CPI?
Today, the highly anticipated US Consumer Price Index (CPI) report will be released at 8:30 am ET, and it could trigger massive volatility in Bitcoin and other risk-on assets. Here’s what to watch for:
🚨 CPI Data & Market Impact
The CPI measures the average price change of goods and services in the US and is a key indicator of inflation. Depending on how it compares to expectations, Bitcoin could either rally or take a serious dive.
💥 Bitcoin’s Bearish Bias
Despite hopes for an October surge, Bitcoin’s recent 5% drop in the last 10 days shows a bearish pattern. Unless BTC flips the $65K resistance level, the bias remains downward. Could today’s CPI shake things up?
🔥 Key Scenarios to Watch
1. Hotter-than-expected inflation: 🚨 Expect a potential BTC crash as investors flock to safe-haven assets.
2. Inflation meets expectations: 🔄 Bitcoin may continue its sideways consolidation.
3. Lower-than-expected inflation: 🚀 This could fuel a rally and kickstart the October bull run for Bitcoin!
Stay tuned for major price action as the CPI data drops!
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