Have Things Gone Well for Bitcoin? How Will Critical Data Coming from the USA This Week Affect BTC and the Market? Analysts Announced!

Leading cryptocurrency Bitcoin (BTC) It made a positive start to the week when critical data will be announced.

While it is wondered whether this rise will continue or not, the Singapore-based cryptocurrency company QCP Capital evaluated the current situation.

At this point, QCP Capital analysts stated that they remain optimistic about Bitcoin despite CPI concerns.

BitcoinStating that October started with a decline, but things got better, analysts said that investors’ upward expectations for the fourth quarter continued.

this week CPI and PPI Analysts stated that the data were followed carefully and FED He added that it may affect interest rate cut expectations.

Stating that October upward expectations continue, analysts wrote:

“Bitcoin has gained momentum after a bumpy start in October, stabilizing around $60,000, and the Uptober narrative appears to be back on track.

The Uptober narrative combined with strong NFP numbers helped BTC find strong support around 60k.

Additionally, despite the setbacks, options data shows a bullish trend for Q4, with investors targeting $75,000 and $95,000 for December.

With additional interest rate cuts and BTC’s strong correlation with stocks, we are still optimistic about a strong October.

However, all eyes will be on the US CPI data to be released this Thursday.

With recent strong US wage and jobs numbers, CPI data will be closely watched to see if there is a pick-up in inflation.

“Fed rate cut expectations have shifted from 50 basis points to 25 basis points in just one week, and this week’s data will determine whether further cuts are priced in.”

*This is not investment advice.