The $ 200k BTC by the end of the year is now steadfast in gaming, says analyst after the muttered US may be inflation data
The softer Wednesday-than-expected US expected to set the stage for accelerated gains in Bitcoin
Potential for $ 200,000 by the end of the year, according to Matt Mena, crypto research strategist in 21shares.
“If the BTC destroys the $ 105k- $ 110k range with belief, we will see a sharp move to $ 120k and, more importantly, reach our target price price of $ 138.5K by the end of summer,” Mena told CoinDesk in an email.
“Today’s CPI printing can serve as a bullish catalyst for Bitcoin -and it could be unlocking this target by a few months. If the momentum continues the building, a $ 200k bitcoin by the end of the year is now firmly playing,” Mena added.
21shares are one of the first and largest providers of products exchanged by Crypto Exchange (ETP),
The report from the Labor Department released on Wednesday showed that the cost of living, measured by the Consumer Price Index (CPI) rose 0.1% last month after the increase of 0.2% in April. Economists reviewed by Reuters have foorecast a 0.2% increase.
Interestingly, the CPI for durable goods, most of which were imported or made with imported content, reduced by a periodic adjective 0.1% month-to-month (-1.3% annual), indicating that President Donald Trump’s tariffs have not yet been fully passed to the final consumer.
The annual CPI was advanced 2.4%, with the main inflation that corresponds to April speed at 2.8%.
“The continued flow of inflation cooling is boosting the case for potential next year’s refinement policy. By June of Fed’s June, the focus is now changing how much policy manufacturers can respond to cooling inflation and transferring macro clarity,” Mena said in an email to CoinDesk.
The CPI report prompted entrepreneurs to priced on 47 basis of Fed easing points, equivalent to nearly two 25 basis for reducing the point rate, this year, compared to 42 basic points early this week. In addition, entrepreneurs have been priced that the cutting rate for October is fully priced, with the possibility of turning in September of more than 70%.
Mena explained that the CPI tailwind has come to the heels of many bullish catalysts, such as sovereignty and institutional adoption and the upcoming regulation of Stablecoin.
“As macro’s clarity improves, we must see Bitcoin flows accelerating -urged by institutional confidence, increased activity from bitcoin wealth, and the ongoing control of State levels of Bitcoin Reserve (SBR) state levels. These dynamic global portfolios.
BTC changed hands to $ 108,440 at the time of press, according to CoinDesk data.
