👉👉👉 #Bitcoin's New ATH May Be Only Two Weeks Left! Analyst Announces the Events That Will Take $BTC to ATH!
In March, Bitcoin reached a new all-time high (ATH) surpassing its previous ATH of $69,000, but subsequently experienced a sharp decline. This drop was significantly influenced by the selling pressure from long-term investors. However, recent data indicating a decrease in this selling pressure has led to increased bullish expectations.
Investors are now anticipating a new ATH for Bitcoin in the short term. Markus Thielen, the founder of 10X Research known for his accurate predictions, has outlined key events that could propel Bitcoin to a new ATH.
Thielen emphasized the importance of June's inflation data for Bitcoin's trajectory. He claimed that if the Consumer Price Index (CPI) data is 3.3% or lower, Bitcoin will reach a new ATH. Additionally, he noted that strong inflows into spot #BitcoinETFs , apart from the US inflation data, would positively impact the price increase. He believes these inflows will "remain strong" in the two weeks leading up to the June CPI announcement.
However, Thielen cautioned that if the CPI data is higher than expected, the upward momentum in Bitcoin may weaken. He explained that Bitcoin price movements might appear random to many, but they are driven by critical factors, with inflation being a primary driver. Traders who understand Bitcoin's response to CPI data should trade confidently in the opposite direction of the change in CPI from the previous month.
“If inflation reaches 3.3% or lower in June, Bitcoin could hit an all-time high,” Thielen stated.