Bitcoin squares up to key BTC price support and more as another CPI week dawns.
BTC price action is sticking tightly to a narrow trading range — what could cause a dramatic change of pace?
These focus mainly on bid liquidity below $50,000 — an attractive zone for a longer-term market bottom. On shorter timeframes, however, BTC/USD seems more interested in clearing liquidity to the upside as the week begins.BTC price: It’s all about $60,000 CPI forms the highlight when it comes to the inflation debate and risk-asset hopes for interest rate cuts.
Markets have shown themselves to be highly sensitive to Powell’s tone when it comes to hints as to future policy moves.underscores sentiment — traders see barely any chance of a rate cut at the Fed’s next meeting in June, with the likelihood only increasing substantially in September.
“Interestingly, a trend line can be drawn between the data points from 2018, 2021, and 2024. There's a cyclical trend occurring, as previously described, where long-term holders buy in bear markets and sell in bull markets. However, a broader and more enduring trend is also at play: despite this cyclical trend, an increasing share of bitcoin is steadily being held by long-term holders.”Bitcoin and altcoin market observers may not need to wait much longer to see more varied conditions return.
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