In his latest market observations, popular trader and analyst Rekt Capital saw reason for cautious optimism on BTC price performance.“The latest Bitcoin Daily Close means that price has began the process of exiting its recently filled CME Gap after turning it into support,” he told X followers, referring to the difference between session closing and opening levels on CME Group’s Bitcoin futures — a common short-term price influence.“Any dips into the top of the CME Gap would constitute a post-breakout retest attempt to fully confirm the exit from this CME Gap.
Related: Bitcoin whales hint at $80K ‘market rebound’ as Binance inflows cool“With inflation concerns lingering and macro risks mounting, the CPI print will be a key determinant of whether the disinflationary trend will hold, or volatility intensifies in the near term,” it wrote in its latest “Asia Color” market update.
The January print of the US Consumer Price Index (CPI) came in below expectations at 2.8%, per data from the Bureau of Labor Statistics (BLS), hinting at slowing inflation.“Core CPI inflation FALLS to 3.1%, below expectations of 3.2%,” trading resource The Kobeissi Letter added in part of a response on X. “This marks the first decline in both Headline and Core CPI since July 2024.
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Author / Journalist: Cointelegraph by William Suberg
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