Bitcoin Price Forecast: Diminishing Appeal of Selling BTC at Trump’s Inauguration
Bitcoin’s price slightly recedes to around $99,200 after rising 4% post-CPI release. Traders should observe retail sales data for potential price shifts. Reports suggest selling BTC at Trump’s inauguration is losing appeal as market sentiment evolves, despite prior enthusiasm.
On Thursday, Bitcoin’s price experienced a slight decline, trading around $99,200 after a notable 4% rally following the release of the US Consumer Price Index (CPI). Traders are advised to monitor the upcoming US Retail Sales data, as it may introduce further volatility to Bitcoin’s pricing dynamics. A report from K33 indicates that the trend of selling BTC during Donald Trump’s inauguration is becoming less attractive as the event approaches.
Bitcoin is currently navigating a critical juncture as it approaches the $100,000 threshold, following influential economic indicators like the US CPI. The implications of the upcoming presidential inauguration and anticipated US retail sales data could drastically influence market sentiment. Historical patterns around presidential events often indicate heightened market reactions, which may sway Bitcoin’s trajectory in the short term.
In summary, while Bitcoin has demonstrated strong performance recently, the forward-looking sentiment surrounding selling BTC during Donald Trump’s inauguration appears to be shifting, with traders adopting a more cautious stance. Upcoming economic data releases will likely play a pivotal role in shaping both volatility and investor behavior in the coming days. Analysts maintain a largely optimistic outlook for Bitcoin’s medium to long-term potential.
Original Source: www.fxstreet.com
Post Comment