Markus Thielen from 10x Research highlights the potential for a lower Consumer Price Index (CPI) in the US on February 12, possibly defying market expectations and stimulating a Bitcoin rally. Despite most participants anticipating the CPI to remain at 2.9% year-on-year, Thielen references the US Truflation Inflation Index, which indicates inflation may actually be declining, possibly down to 2.1%. He suggests that if the CPI surprises to the downside, such as at 2.7% or 2.8%, a relief rally for Bitcoin could occur, similar to the surge seen in January when a surprise stabilization led to a $10,000 increase in Bitcoin's price. This could push Bitcoin to around $105,491, nearing its all-time high of $109,000. As of now, Bitcoin trading is at $95,490, reflecting a 2.65% decrease over the past week. The overall sentiment among market participants remains optimistic regarding potential price movements following the CPI release.

Source 🔗