CPI lower than expected may boost Bitcoin, but the overall economic situation is still dominant

Odaily Planet Daily News: Institutional analysis points out that for Bitcoin investors, tonight's US January CPI report may have a significant impact on the direction of the market. If the CPI is lower than expected, especially the core data excluding food and energy, it may enhance the Fed's hopes of easing interest rates. This situation may weaken the dollar and make U.S. Treasury yields more attractive, which may boost demand for riskier assets such as Bitcoin. However, those who are eager for a sharp rise in cryptocurrencies may have to lower their expectations. While the cooling of CPI may bring a short-term boost, the overall economic situation remains the dominant factor. CoinDesk believes that as inflation is expected to continue to be the focus and the Federal Reserve remains cautious, Bitcoin price movements may be limited to the narrower end of the $90,000 to $110,000 trading range, especially if the CPI report shows higher-than-expected data. (Jinshi)