BTC price due for $31K as analyst says 'disinflation' boosting Bitcoin
Bitcoin and crypto markets seem ready to put in a "major move," commentary concludes, as BTC price action coils up below $31,000. Bitcoin (BTC) looked set to challenge range highs on July 13 as fresh macroeconomic data boosted risk asset bulls. BTC/USD 1-hour chart. Source: TradingView PPI shows U.S. inflation retreating beyond expectations Data from Cointelegraph Markets Pro and TradingView followed the market as the BTC price focus shifted above $30,500. PPI inflation leads CPI by a few months... and today's PPI numbers have YoY running at +0.24% Almost in deflation! Fed pivot anyone? https://t.co/oM4ck5Vgwy pic.twitter.com/Xl78ohLzOM — tedtalksmacro (@tedtalksmacro) July 13, 2023 United States Producer Price Index (PPI) numbers released on the day again came in below expectations, aiding rapidly abating inflation forecasts. With two weeks to go until the Federal Reserve decided on interest rate policy, however, markets themselves remained convinced that anot...