Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact.
Bitcoin vs. CPI: “Expect volatility”
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.”