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According to the latest article from 10x Research, the US economy is slowing down, which is a good thing for now. GDP is just above 1%, the ISM manufacturing index has been in contraction for several months, and the employment side continues to be weak, which has a negative impact on consumer spending. Last night, another key and forward-looking employment indicator, job openings, slowed significantly, all of which will lead to lower inflation.
We will get more employment data this Friday, and weaker surprises may lead to rate cuts, and we will receive the CPI inflation report next week. If the CPI grows 3.3% year-on-year or less, the decline in US employment or inflation will promote further increases in Bitcoin's closing price, so we expect Bitcoin to reach more than $73,500 by the end of next week.
We will get more employment data this Friday, and weaker surprises may lead to rate cuts, and we will receive the CPI inflation report next week. If the CPI grows 3.3% year-on-year or less, the decline in US employment or inflation will promote further increases in Bitcoin's closing price, so we expect Bitcoin to reach more than $73,500 by the end of next week.
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