Traditional and cryptocurrency investors are eagerly awaiting Friday’s personal consumption (PCE), which may provide more relief to inflation-related concerns and bring more appeal to investors in risk properties including Bitcoin.
The US Bureau of Economic Analysis (BEA) is set to release the next PCE Report On March 28, which measures inflation on prices paid by US consumers for goods and services.
PCE inflation print can be “next major catalyst” for bitcoin (Btc) and other risk properties, according to the QCP Group, a Singapore-based digital asset firm.
QCP write In Telegram:
“As we approach the quarterly expiry of Friday, with the highest open interest in the strikes above over $ 100k, we do not expect the basic volatility driven by options that are just positioning. But attention will return to the PCE inflation print, which may be the next major catalyst.”
Risk assets presented a significant recovery after “Trump signing twice on Monday that trading partners can save exceptions or cuts, offering a reprieve that has helped entertain market jitters,” the QCP added.
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Other analysts also taught concerns in the global trade war as the biggest barrier for investor’s appetite.
Despite the many positive development specific crypto, Global Tariff is afraid will continue to force markets until at least April 2, according to Nicolai Sondergaard, a research analyst in Nansen.
“I hope to see what will happen to the tariffs from April 2nd forward, we will probably see some of them falling down but it depends on whether all countries can go,” Songergaard said.
BTC/USD, 1-day chart. Source: Cointelegraph/Tradingview
Bitcoin price dropped more than 14% because US president first announced that Donald Trump first announced import tariffs on Chinese goods on January 20, the day of his inauguration by the president.
However, analysts expect the PCE report to be more comfortable with inflation -related concerns, raising Bitcoin’s historic rally for the month of April.
Source: Coinglass
Bitcoin average over 12.9% monthly return in April, making it the fourth best month for the price of Bitcoin based on the historical return, Coinglass Data displays.
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Bitcoin can rally with a $ 110,000 record high in avoiding inflation concerns
Bitcoin is more likely To sink to a new $ 110,000 all-time high before retracing at $ 76,500, according to Arthur Hayes, Bitmex’s co-founder and Maelstrom’s chief investment official.
Bitcoin’s increase in the $ 110,000 mark “record appears to be possible in the current market environment,” according to Juan Pellicer, senior research analyst in Intotheblock.
“The BTC shows signs of recovery, driven by the growing interest of the institution and significant investment from large players,” the analyst told Cointelegraph, increasing:
“The Federal Reserve’s recent decision to ease its financial finances can boost liquidity, favored by rising prices in the near term.”
“While market volatility remains a risk that can lead to a pullback, the overall momentum and support levels suggest bitcoin is more likely to be able to control the higher target,” Pellicer added.
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