10x Research: Tariff shocks and inflation data interrupt Bitcoin's rally, expected to fall below $80,000 this week
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Planet Daily News: According to 10x Research, the recent Bitcoin rebound momentum has weakened over the past three weeks. Higher-than-expected core PCE (Personal Consumption Expenditures) data shows rising inflation—partially driven by Trump's tariff policies—which seems to be affecting consumer confidence. One-year inflation expectations have jumped to 5.0%, undermining risk asset performance, with Bitcoin expected to fall below $80,000 this week. Multiple hedging factors may put pressure on the stock market and spread to the cryptocurrency market. Analysis indicates that Trump initially suggested moderate tariff measures, but his stance has shifted to a more aggressive approach. Previously, the market generally believed that tariff implementation would take time, leaving room for negotiations. However, this expectation reversed last week, with increasing market concerns about potential tariff implementation before lengthy negotiation processes. Additionally, weak ISM Manufacturing PMI could exacerbate market pressure. If US employment data remains strong, it might delay Federal Reserve intervention. The VIX (Volatility Index) remains low, suggesting many traders may be underestimating recent downside risks.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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