Bitcoin $58,156 price fell again after the US PPI data and the decline coincided with the opening of the stock markets. While the gold ounce price broke the all-time record again, the President of the European Central Bank says that inflation will rise again in the last quarter. So what are the experts’ crypto money What are the market evaluations?
September 12 Cryptocurrency Comments
QCP Capital analysts Today’s assessment shared by addresses the current situation. We share these assessments frequently as QCP offers a broader perspective as they also take into account developments on the macroeconomic front. There are only a few days left for the Fed’s interest rate decision. Next Wednesday, the Fed will likely announce a 25bp rate cut.
“Yesterday’s US CPI data met expectations, with core CPI rising to 0.3% on a monthly basis, slightly above the 0.2% estimate. This raised the probability of a 25 basis point Fed rate cut to 85%, the highest level in a month.
In crypto, BTC has recovered from intraday losses to reclaim $57,000, signaling a growing bullish outlook for strong demand. Options activity is also reflecting this, with demand for October-December Calls rising. BTC volatility has fallen 12 points this week, driven by the CPI release and the presidential debate. With no major macro events in the near term, we expect volatility to ease ahead of next week’s FOMC meeting.
Given the clear bullish economic events on the horizon, the market is gaining momentum with the upcoming rate cut and the US Presidential Election.”
Analysts expect cryptocurrencies to reach much better levels in November and December than where they are today.
Bitcoin and the Latest Situation
BTC price It is currently holding $57,000 and we shared that many analysts expect an increase with closings above this level. If the key area can be maintained until the Fed’s decision, we can see an increase in risk appetite in altcoins. On the other hand, the President of the European Central Bank said that inflation will increase again in the last quarter.
If Fed interest rates If the labor force data continues to weaken while the inflation rate is being lowered and global inflation increases in the last quarter, this could cause the dreams of a last-quarter increase to be dashed.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
