Bitcoin's New All-Time High Depends On This Macro Indicator: 10x Research
Portfolio Pulse from Murtuza Merchant
Bitcoin's potential to reach new all-time highs is closely tied to inflation data, according to a report by 10x Research. Institutional inflows have been significant, but higher-than-expected inflation has dampened enthusiasm. The report suggests that if inflation data aligns with or falls below expectations, Bitcoin could reach new highs.
May 29, 2024 | 4:55 pm
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Bitcoin's price movements are closely tied to inflation data. Institutional inflows have been significant, but higher-than-expected inflation has dampened enthusiasm. If inflation data aligns with or falls below expectations, Bitcoin could reach new all-time highs.
The report by 10x Research highlights the significant role of inflation data in Bitcoin's price movements. Institutional inflows have been strong, but higher-than-expected inflation has led to pauses in ETF inflows and price declines. If upcoming inflation data aligns with or falls below expectations, it could create a positive environment for Bitcoin, potentially driving it to new all-time highs.
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