You have a hundred options for crypto cards. Why KAST? 1/ Get your card in 3 mins (free) 2/ Visa Platinum, ensures high acceptance rates 3/ Competitive FX. Did we mention 9-18% in points towards our token! Download now: https://apps.apple.com/sg/app/kast-finance/id6479701765
👇1-10) Last Saturday (July 6), we recommended a tactical bullish position on Bitcoin ahead of this week’s CPI data when Bitcoin traded at $56,746. We anticipated that a rate cut rally could push Bitcoin near $60,000. Yesterday, Bitcoin rallied to $59,350 due to short covering ahead of the CPI, fulfilling our rally expectations. 👇2-10) Our bullish stance on Bitcoin in late 2022 and early 2023 puzzled many participants. Contrary to most economists' predictions, we expected a significant US inflation (CPI) decline from nearly 8% to about 3% by late 2023. During our presentations, we demonstrated how Bitcoin responded positively to lower inflation. 👇3-10) In January 2023, this scenario played out when Bitcoin rallied +5% on the CPI release day. Economists still expected a high inflation number, while traders were bearish. This was followed by another Bitcoin move of +6% the next day and another +5% afterward. As predicted, lower inflation set off the Bitcoin rally in 2023. 👇4-10) This week’s CPI report is complex as anticipation of a decline has already caused a short-cover rally of +5%. Trading on data releases and events requires a deep understanding of the always-shifting market expectations and changing positioning. An outsized move depends on the surprise factor AND how traders are positioned. Bitcoin - bottoming out?
 Unlock this post for free, courtesy of 10x Research.A subscription gets you:
|
2024年7月11日星期四
Bitcoin and CPI – Betting Against Consensus
订阅：
博文评论 (Atom)
没有评论:
发表评论