Bitcoin faces contrasting market forces, according to CoinShares Head of Research James Butterfill. The U.S. core CPI rose 0.3% month-on-month in August, exceeding expectations and increasing the probability of tighter monetary policy, which could limit Bitcoin’s immediate upside. Market bets on a rate hike at the next Federal Reserve meeting reached 85% at one point, based on CME FedWatch data.
Butterfill said the expanded U.S. Treasury buyback program has failed to effectively lower long-end yields. If that continues, larger-scale intervention could raise concerns about currency depreciation and support valuations for Bitcoin and gold over the medium term. CoinShares said Bitcoin’s short-term upside may remain capped below $80,000.
CoinShares: CPI May Cap Bitcoin’s Short-Term Upside Below $80,000
Avertissement : Le contenu proposé sur Phemex News est à titre informatif uniquement. Nous ne garantissons pas la qualité, l'exactitude ou l'exhaustivité des informations provenant d'articles tiers. Ce contenu ne constitue pas un conseil financier ou d'investissement. Nous vous recommandons vivement d'effectuer vos propres recherches et de consulter un conseiller financier qualifié avant toute décision d'investissement.