Glassnode Lianchuang: The real trend of Bitcoin can only be determined after the CPI data is released
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Odaily reports that Glassnode co-founders Yann Allemann and Jan Happel, through their X account Negentropic, stated that on Tuesday, members of the U.S. Federal Open Market Committee (FOMC) will give speeches, and the Federal Reserve chairman will testify, while U.S. inflation data will be released this week - these two key macroeconomic factors will affect market trends. As Bitcoin attempts to reclaim the range of $97,200 to $98,500, the $100,000 target is not far away. However, before the macroeconomic data is clarified, price volatility and position liquidation will continue. It implies that the trend before the CPI data release may be a false move, and the real market trend will appear after the data is released.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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