The Bitcoin halving is expected as soon as next week. But a worsening macro climate, and uncertainty around whether the halving will be a sell-the-news event is playing on trader’s minds.
Bitcoin is sitting at $69,764, after an unsuccessful attempt to push past the key $70,000 earlier in the week. The path ahead looks uncertain, with a worsening macro climate, and uncertainty around whether the halving will be a sell-the-news event playing on trader’s minds.
Source: BNC
One of the reasons for the market jitters was disappointing new US Inflation data released on Wednesday. The Consumer Price Index (CPI) for March increased above expectations, casting doubt on the possibility of a Fed rate cut this summer. The CPI for March rose 0.4%, surpassing the anticipated 0.3%. Year-over-year CPI increased to 3.5%, exceeding the expected 3.4%.
Following the CPI data release, the price of Bitcoin (BTC) dipped more than 1%, S&P 500 and…
