As Bitcoin enters a pivotal week, market participants are closely monitoring several key indicators and events that could determine its near-term trajectory. Renowned crypto analyst Ted (@tedtalksmacro) has provided an in-depth analysis, highlighting the critical factors at play. Weekly Bitcoin Preview Ted’s analysis begins by contextualizing the broader macroeconomic environment. Last week’s US Consumer Price Index (CPI) and Producer Price Index (PPI) data were optimistic for risk assets, highlighting a continued disinflationary trend. “Both CPI and PPI data were optimistic for risk assets, with each showing that the disinflationary trend remains,” Ted noted. However, he cautioned that the Federal Reserve’s communication suggested that the market should not be overly enthusiastic about imminent rate cuts. Related Reading: Bitcoin Crashes To $65,000, Expert Unpacks Drivers Of Crypto Market Bloodbath The focal point for this week is the Federal Open Market Committee (FOMC) meeting and its revised dot plot. In March, the dot plot indicated potential rate cuts of 2-3 times in 2024. However, the June dot plot revision suggests a more conservative outlook, indicating only 1-2 cuts. Ted ..
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