The dawn of inflation cooling is beginning to emerge, and the expectation of interest rate cuts is rising again. Can BTC take advantage of the wind to break the 70,000 mark?
Recently, the financial market has once again been stirred by inflation data. Since the first quarter, the hot inflation data has been like a basin of cold water to extinguish the market's eager expectations for interest rate cuts, causing BTC prices to plummet, and many altcoins have been cut in half. However, with the release of non-agricultural data in May, the news of rising unemployment has injected new vitality into the expectation of interest rate cuts.
However, the PPI data released last night was unexpectedly stronger than expected, which undoubtedly brought new uncertainties to the market. The remarks of Federal Reserve Chairman Powell also reiterated his cautious attitude towards the expectation of interest rate cuts. He emphasized that inflation is still the current focus of attention, and the Federal Reserve needs to see more data to confirm whether inflation has been effectively controlled.
Against this background, the CPI data to be released soon has become the focus of the market. Whether the CPI data can decline will become a key factor in determining the node and extent of interest rate cuts. If the CPI data is in line with expectations, or even lower than expected, then the Fed's interest rate cut expectations will likely pick up again, which will undoubtedly inject new vitality into the financial market.
For the digital currency market, BTC, as the market leader, often leads the trend of the entire market. If the interest rate cut expectations pick up, BTC is expected to return to the 70,000 mark, or even create a new historical high. At the same time, this will also provide new upward momentum for many altcoins and promote the prosperity of the entire digital currency market.
However, market trends are always full of uncertainty. Under the dual influence of inflation data and interest rate cut expectations, how will the digital currency market perform? Can BTC break the 70,000 mark? All this requires us to wait and see. But in any case, we should remain calm and rational, and be cautious about every fluctuation in the market.
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