Bitcoin (BTC) prices have been on edge as of late with swing in both directions. However,BTC/USD has continued to remain weak, even as positive news from macro developments in the US has led to a rise in the expectation of a pause in June interest rate hikes.

Trader Daan Crypto has noted that the price has failed to stay after a minor recovery. Now, traders such as Crypto Tony and Mouchache are looking at possible targets of $27,000 and below should the situation remain unchanged. Mouchache has said that a bearish cross of the SMA 20/200 line has presented investors with the opportunity to purchase BTC at around $15,000 in September 2021.

On the macroeconomic level, the US PPI and Unemployment figures have prompted encouraging signs to support the conclusion that the path of CPI inflation is heading down. CME Group's FedWatch Tool has also reported more than 96% consensus for a possible pause in interest rate hikes in June.

The aforementioned news has been beneficial for cryptocurrencies, particularly for Bitcoin, as investors look for an alternative investment to traditional financial fundamentals. While it remains unknown where the BTC market will head in the near future, should the positive news from US macroeconomic developments remain positive the market could experience a positive resurgence. Investors, therefore, should stay informed of the situation through analysis of all relevant data points.



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