CPI comes in on point, but BTC bulls are still waiting for a push to $18,500.
showed BTC/USD encountering predictable volatility around the release of Consumer Price Index data for December.
In so doing, the largest cryptocurrency copied behavior from one month prior, with resistance at $18,500 remaining untested., markets were correspondingly betting on a smaller 0.25% interest rate hike from the Federal Reserve at the February meeting of its Federal Open Market Committee .For traders, it was still a case of"wait and see" in spite of the trend of declining inflation persisting in the U.S.
Michaël van de Poppe, founder and CEO of trading firm Eight, likewise suggested that Bitcoin could see a temporary drop next before joining a broader risk asset recovery on the back of the CPI data Meanwhile, stocks, which had already priced in the CPI result, stayed muted in the hour following the open.At the time of writing, the S&P 500 and Nasdaq Composite Index were both 0.2% higher on the day.that core inflation remained"sticky," this potentially serving to dampen sentiment despite the overall trend.
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