21Shares Analyst: CPI Data to Have ‘Favourable Impact’ on Bitcoin Price
The U.S. Bureau of Labor Statistics reported on October 10 that the Consumer Price Index (CPI) rose 2.4% in September from a year earlier, the lowest level since February 2021. Leena ElDeeb, Research Analyst at 21Shares, explained, ‘Bitcoin and crypto assets more broadly are particularly sensitive to inflation metrics, as they heavily influence the Fed's monetary policy decisions. the CPI data will have a favourable impact on the price of Bitcoin, as borrowing costs will be lower. As a result, we expect a recovery in market flows after recent geopolitical tensions disrupted the financial landscape.’
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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