It is thought that the US inflation data to be announced today may lead to a new rise in Bitcoin prices. Although Bitcoin and other cryptocurrencies, which have been in a downward trend recently, are showing signs of recovery, most investors are still cautious. It is predicted that the US inflation data, which will be announced at 15.30 GMT, may be a turning point in the cryptocurrency market.

According to economists surveyed by Dow Jones, the cost of living in the United States rose 0.1% in June to 3.1% on an annual basis, after remaining flat in May. It is estimated that the core CPI, which excludes food and energy prices, will increase by 0.2% compared to May and 3.4% compared to June last year.

According to market maker Wintermute, the FOMC's tendency to lower policy rates is behind analysts' optimism for 2024 and 2025. Low interest rates often increase liquidity, driving investors into risky assets, such as cryptocurrencies.

How US Treasury yields react to expected soft CPI data could impact overall market sentiment and therefore Bitcoin's performance. Slowing inflation and increasing interest rate cut expectations may reduce short-term bond yields while keeping long-term bond yields high. It is thought that this situation may cause the bond yield curve to steepen in the bullish trend.

According to the CAIA Association, such bullish periods often occur during economic downturns, and a steepening of the curve usually signals the beginning of a recession. Investment banks such as JPMorgan and Citi are also developing trading strategies by taking advantage of this trend.

Bitcoin experienced sharp declines due to selling pressure from major economies such as the USA and Germany, as well as miners and Mt.Gox. However, it is thought that the inflation data to be announced today may change the direction of the market.

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