Expert Forecasts Potential Impact of US CPI Report


  • Bitcoin Price remains steady at $28k after a month of ranging trading.
  • Analysts Michael van de Poppe forecasts potential market movement in light of the upcoming US CPI report.
  • Traders should watch for Bitcoin’s Volume Weighted Average Price (VWAP) metric.

Bitcoin Price has been trading in a range over the last few days, with bulls pushing the top cryptocurrency towards $28,500. As the week begins, volatility is likely to rise.

Indeed, Rekt Capital Bitcoin remains a currency “well positioned for mid- to long-term upside”This is especially true as the cryptocurrency approaches its next halving event. 

But What about the next few days, though? Below What analysts have to say about it Bitcoin This week’s price

Expert Forecasts Potential Impact of US CPI Report

Crypto expert Michael van de Poppe believes Bitcoin is still in a period of consolidation – which has stretched from around mid-March. However, he anticipates potential movement in the market in response to the release of the US Consumer Price Index (CPI) report on 12 April.

In a comment he shared with Monday, van de Poppe The upcoming CPI data is a “big event this week.” 

If buyers can retest $28,600, then BTC may rise further. “Bitcoin is still stuck in the range. Good move overnight to $28,500 and back to consolidation. Big event this week with CPI, probably the market mover. If another test of $28,600 takes place, I’m assuming we’ll be breaking out upwards,” The analyst said.

Here is the analyst’s Bitcoin Price chart

Trading BTC price outlook and volume metric

Analyst bitcoindata21 believes the US CPI news is likely to be a major catalyst. However, he also suggested traders watch Bitcoin’s Volume Weighted Average Price (VWAP), which currently sits on the benchmark cryptocurrency’s all-time highs.

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