Bitcoin price targets range from $19K to $25K as CPI day dawns


Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin vs. CPI: “Expect volatility”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to expand beyond $21,800 ahead of the United States Consumer Price Index (CPI) print for January.

Already called the “most important” CPI release, the data, due at 8:30 am Eastern Time, is a classic volatility catalyst for risk assets.

Crypto market participants thus expected a busy trading day, with both $19,000 and $25,000 on the table as potential targets depending on how far the results stay from estimates.

“Will probably see that $24-25k Bitcoin pump if tomorrow morning’s CPI number shows more disinflation in the positive direction,” Venturefounder, a contributor at on-chain analytics platform CryptoQuant, wrote in part of a Twitter update.

“Conversely negative surprise would set up a perfect retest to $19-20k BTC A very important day. Expect volatility.”

Consumer Price Index (CPI)…

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