CandleFocus Is Things Getting Better for Bitcoin? How Will Critical Data Coming From the US This Week Affect BTC and the Market? Analysts Explained!
2024-10-07
Author: Content Editor
QCP Capital, a Singapore-based cryptocurrency company, remains optimistic about Bitcoin despite concerns about the Consumer Price Index (CPI). The analysts note that Bitcoin started October with a decline but has since regained momentum and stabilized around $60,000. They expect the Uptober narrative to continue, with investors targeting $75,000 and $95,000 for December. The analysts also believe that additional rate cuts and Bitcoin's correlation with equities will contribute to a strong October. However, they emphasize that all eyes will be on the US CPI data to be released on Thursday, as it will determine if there is a rise in inflation and potential further rate cuts.
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