Who's afraid of this week's big bad BTC death cross?
. Flagging $21,839 as the point of interest, he said that a weekly close below this would “confirm the breakdown” in BTC/USD, a move which ultimately came true.BTC/USD annotated chart. Source: Rekt Capital/ TwitterThe macro landscape is set to be dominated by one data point in particular this week with the Feb. 14 release of the U.S. Consumer Price Index for January.
The extent to which CPI plays a role in policy adjustments at the Federal Reserve is also a topic of debate at present, after Chair Jerome Powellthat another metric may be the “most important” tool for inflation monitoring late last year. “While many Bitcoin investors have noted that BTC typically bottoms roughly ~400 days after the bull market peak, this chart suggests that this time is different,” he wrote.
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