Summary
US headline CPI fell to 3.5% year-over-year in June, down from 4.2% in May.
Bitcoin gained roughly 2.7% in 24 hours, pushing back above $63,800.
The multi-week price pattern now resembles a 2018 pattern that later reversed.
That 2018 cycle gave back its entire summer bounce by September.
Bitcoin rose above $63,800 on Tuesday after the US Bureau of Labor Statistics reported that consumer prices fell 0.4% in June compared with May, pushing annual inflation down to 3.5% from 4.2% the previous month. The reading came in softer than markets had priced in, and the total crypto market capitalization rose within hours of the release, climbing to $2.19 trillion, up 2.05% on the day.
The rally itself isn’t unusual. What’s drawing attention on trading desks is a specific historical comparison that analyst Benjamin Cowen posted shortly after the print, arguing that Bitcoin’s overall price structure over the past several weeks – not just today’s move – tracks almost step for s
We współpracy z: https://www.crypto-news-flash.com/bitcoin-chart-structure-echoes-2018-cycle/
