Favorable data on the consumer price index in the US is a new motive for easing the hawkish policy of the Federal Reserve.
February index (CPI) fully corresponds to the forecast – 6.0% (in January it was 6.4%).
These positive data are only overshadowed by widespread suspicionthat they may have been rigged so as not to present the Fed with a hard choice. The banking crisis that has broken out in the country clearly indicates the need to slow down or even stop raising the key interest rate.
Venturefounder, CryptoQuant platform analyst, so commented twitter event:
This is a big victory over inflation. No more rate hikes, the Fed will cut it by 50 bp by the end of 2023.
And he added: “If Powell lowers the inflation target to 2%, this will be the most important Fed decision since the 1970s – after the abandonment of the gold standard.”
Bitcoin reacted to the decline in inflation by continuing the rally. According to the Cryptocurrency Screener Cryptovizorwhich determines the market price of BTC/USD based on the results of trading on the largest spot exchanges, at the time of publication, the asset reached a maximum of this year at around $26,389. is an important sign of a cryptocurrency bull market.
Head of trading firm Eight Michael van de Poppe (Michaël van de Poppe) wrote on twitter: “$25,600 for bitcoin. Growth by 25% after the weekend, during which 3 banks burst. This is impressive and pleasing. In a few years we will laugh at these [низкими] prices.”
AND Further (especially for trading traders):
No shorts on Bitcoin yet, unless there is clear confirmation of a correction. We can shoot up to $28,000 from current prices without any consolidation. If it breaks below $24,800-24,900, a purchase for $23,300 is relevant.
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