Bitcoin (BTC) surged after lower-than-expected inflation data boosted market optimism. Michaël van de Poppe, a notable crypto trader, cited the CPI data and highlighted the market's anticipation of rate cuts. This positive news triggered a 4% gain for Bitcoin, briefly reaching $69,600. Altcoins such as Dogecoin (DOGE) and meme coins like Pepe (PEPE) and Dogwifhat (WIF) also experienced gains. Analysts believe this inflation slowdown signals potential crypto growth and see Bitcoin's technical target at $116,652. Despite some market volatility, most Bitcoin holders remain in profit.
Benzinga•10 months ago•
1720
CPI Data Gives Bitcoin a Boost, Trader Calls it 'Best Possible News'
Bitcoin
CPI
Inflation
Altcoins
Cryptocurrency
Share this content:
Summary:
Bitcoin surged after lower-than-expected CPI data.
Trader Michaël van de Poppe called it "the best possible news we could have gotten."
Bitcoin briefly reached $69,600, a 4% gain.
Altcoins and meme coins also experienced gains.
Analysts see potential crypto growth and Bitcoin's technical target at $116,652.
Newsletter
Subscribe our newsletter to receive our daily digested news
Join our newsletter and get the latest updates delivered straight to your inbox.
BitcoinToday.app
Get BitcoinToday.app on your phone!
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!