Bitcoin trader sees new all-time high in June as US PPI reverses a day’s BTC price losses.
The post Bitcoin trader sees new all-time high in June as US PPI reverses a day’s BTC price losses. appeared on BitcoinEthereumNews.com. Key points: Bitcoin hits its anticipated $107,000 low before heading higher as US inflation data boosts bulls. US dollar strength suffers as inflation continues to slow beyond expectations. BTC price expectations include new all-time highs before the end of the month. Bitcoin (BTC) bounced near $107,000 at the June 12 Wall Street open as slowing US inflation data punished the dollar. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView US PPI beat sparks Bitcoin relief bounce Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bucking a day of downside after reaching $106,600 on Bitstamp. Fresh strength followed promising numbers from the US Producer Price Index (PPI), which came in below expectations to show the lowest increase since September 2024. That trend itself repeated results from the Consumer Price Index (CPI) the day prior — a double tailwind for crypto and risk assets. As Cointelegraph reported, cooling inflation notionally gives the Federal Reserve room to lower interest rates faster and sooner, something which would aid liquidity inflows to crypto and risk assets. The Fed has remained hawkish in its stance on policy for 2025, however, despite protests from US President Donald Trump. Fed target rate probabilities (screenshot). Source: CME Group A look at the latest data from CME Group’s FedWatch Tool now shows markets pricing in the next Fed rate cut at its September meeting. The June 18 meeting of the Federal Open Market Committee (FOMC) remains tipped to offer no change in rates. As a result of the inflation numbers, US dollar strength took a fresh hit, with the US dollar index (DXY) dropping to its lowest levels since March 2022. US dollar index (DXY) 1-month chart. Source: Cointelegraph/TradingView Commenting on the current mood, trading firm QCP Capital remained focused on the US-China trade deal while concluding that the trend overall favored…
The post Bitcoin trader sees new all-time high in June as US PPI reverses a day’s BTC price losses. appeared on BitcoinEthereumNews.com.
Key points: Bitcoin hits its anticipated $107,000 low before heading higher as US inflation data boosts bulls. US dollar strength suffers as inflation continues to slow beyond expectations. BTC price expectations include new all-time highs before the end of the month. Bitcoin (BTC) bounced near $107,000 at the June 12 Wall Street open as slowing US inflation data punished the dollar. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView US PPI beat sparks Bitcoin relief bounce Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bucking a day of downside after reaching $106,600 on Bitstamp. Fresh strength followed promising numbers from the US Producer Price Index (PPI), which came in below expectations to show the lowest increase since September 2024. That trend itself repeated results from the Consumer Price Index (CPI) the day prior — a double tailwind for crypto and risk assets. As Cointelegraph reported, cooling inflation notionally gives the Federal Reserve room to lower interest rates faster and sooner, something which would aid liquidity inflows to crypto and risk assets. The Fed has remained hawkish in its stance on policy for 2025, however, despite protests from US President Donald Trump. Fed target rate probabilities (screenshot). Source: CME Group A look at the latest data from CME Group’s FedWatch Tool now shows markets pricing in the next Fed rate cut at its September meeting. The June 18 meeting of the Federal Open Market Committee (FOMC) remains tipped to offer no change in rates. As a result of the inflation numbers, US dollar strength took a fresh hit, with the US dollar index (DXY) dropping to its lowest levels since March 2022. US dollar index (DXY) 1-month chart. Source: Cointelegraph/TradingView Commenting on the current mood, trading firm QCP Capital remained focused on the US-China trade deal while concluding that the trend overall favored…
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