21Shares Analyst: The rise in CPI data has been priced in Bitcoin
According to Cointelegraph, analysts at 21Shares have stated that the rising CPI data has been "digested" by the market, and the price of Bitcoin may have already priced in inflation expectations.
The U.S. Bureau of Labor Statistics' February CPI report shows that the overall CPI rose month-on-month in February, with energy up 0.6%, food up 0.4%, and core CPI up 0.2%. Analysts point out that the current focus is on how the Federal Reserve will respond to subsequent higher CPI data—whether to "look the other way" at this temporary shock or to adopt a hawkish stance as a precaution due to lessons learned from the previous inflation cycle.
Analysts indicate that the price of Bitcoin is currently likely consolidating in the range of $68,000 to $74,000, and if it breaks through the resistance level of $75,000, it may enter a consolidation range of $75,000 to $80,000 in the medium term; historical data shows that Bitcoin typically rebounds by more than 15% after geopolitical market shocks, and if the FOMC resumes rate cuts in 2026, the recovery could accelerate.
The CME FedWatch tool shows that only 0.6% of traders expect a rate cut at the March 18 meeting.
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