Popular crypto analyst shares his take on which direction Bitcoin price may head from here
Poppe reminded the community that CPI will"provide a guideline for the FOMC on their policy" after it is released.
"Expectations are extremely skewed to the upside, through which yields are still accelerating towards new highs," Poppe wrote in his X post.and other risk assets may react to CPI moving higher or lower than expectations. Should both CPIs come higher than expected by economists, risk assets are likely to show"a substantial and heavy sell-off." Bitcoin, in this case, Poppe stressed, may drop below the $25,000 level.
The analyst added that should this scenario play out, Bitcoin and gold in particular will"start outperforming and the Dollar to lose ground."Poppe also mentioned that the former crypto giant FTX, which collapsed in November 2022, and its new managers may start selling the remaining assets today in order to provide compensation to creditors.
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