- Coinbase thinks the crypto market will improve soon, but they are worried about the US CPI impact.
- QCP Capital supports the positive outlook for BTC.
Coinbase analysts believe the crypto market could get better after a big sell-off of Bitcoin on August 5th. They say the market looks good now and could start going up.
Traders are feeling positive, and BTC is going up again after dropping to $49k. The funding rates are good and this is helping BTC go back up.
QCP Capital also thinks BTC will keep going up. They say there is a lot of demand for BTC to hit $100k in 2025.
Will US CPI data affect BTC?
Coinbase says the prices of BTC, ETH, and SOL could keep rising. But they are watching the US CPI data coming out on August 14th. This data can show if prices are going up for consumers. Traders will look at the data on August 13th to guess what will happen next.
Be ready for some ups and downs starting from August 13th. BTC is trading over $60k, ETH is over $2500, and SOL is over $150.
Vocabulary List:
- CPI /siː piː aɪ/ (noun): Consumer Price Index; a measure that examines the weighted average of prices of a basket of consumer goods and services.
- Demand /dɪˈmænd/ (noun): The desire of consumers to purchase goods or services at a given price.
- Sell-off /ˈsɛlˌɔf/ (noun): A rapid sell of securities often leading to a drop in prices.
- Rising /ˈraɪ.zɪŋ/ (adjective): Increasing in level amount or value.
- Traders /ˈtreɪdərz/ (noun): Individuals or entities engaged in the buying and selling of financial instruments.
- Funding /ˈfʌndɪŋ/ (noun): Money provided especially by an organization for a particular purpose.
