CPI report could mean bad news for Bitcoin
There is another reason why the BTC price is falling today. Indeed, some analysts point out that macroeconomic data could continue to cause price pressure in February. The next American Consumer Price Index (CPI) will be published on February 14.
An analyst from QCP Capital points out that he expects the CPI data released on Valentine’s Day could mean bad news for the BTC price.
Thanks to a change in how CPI is calculated, QCP suspects that the upcoming numbers later in 2023 could be higher than the market expects. Whether psychological or not, the net impact could disappoint crypto investors.