CPI inflation of 3.3%
10x Research Head Researcher Markus Thielen, the analyst who predicted the pre-halving Bitcoin all-time high, cited a June CPI reading of ‘3.3% or lower’ on May 30 as critical for a new all-time high.
According to Thielen’s insights in a 10x Research report, while Bitcoin price movements might “appear random,” they are actually influenced by fundamental factors.
Thielen cited inflation as the main driver, noting the importance of the US Bureau of Labor Statistics (BLS) releasing the CPI results on June 12.
He believes that for Bitcoin to consider surpassing its all-time highs reached in March, it will need to see a slowdown in US inflation in the upcoming results.
“If inflation prints 3.3% or lower, Bitcoin should make a new all-time high,” he said.
This represents a 0.1% decrease from the previous CPI result of 3.4% on May 15.
