Bitcoin is heading towards a retest trend towards $40,000 at the end of the week, but the coin still has room to grow.
The United States released data on consumer price growth, which shows that the country's inflation remains high.
We have seen a link between increased dollar inflation and rising prices in the crypto market many times before. High inflation risks, combined with the Fed's plans to end its asset repurchase program soon, may encourage investors to find ways to preserve assets and prevent asset prices from falling.
Therefore, in the next two weeks, BTC will be able to break the $46,000 mark and gain a foothold above it. On the other hand, if the stock market continues to decline severely, there is a chance that the price will drop to the $40,000 level.
BTCUSD
The United States released data on consumer price growth, which shows that the country's inflation remains high.
We have seen a link between increased dollar inflation and rising prices in the crypto market many times before. High inflation risks, combined with the Fed's plans to end its asset repurchase program soon, may encourage investors to find ways to preserve assets and prevent asset prices from falling.
Therefore, in the next two weeks, BTC will be able to break the $46,000 mark and gain a foothold above it. On the other hand, if the stock market continues to decline severely, there is a chance that the price will drop to the $40,000 level.
BTCUSD