Dear Readers,
The much awaited US inflation data is out in terms of Consumer Price Index (CPI) for December 2024.
It has come in at 2.9% for December 2024 as expected.
This is a no Major Move scenario expected.
The expected scenario on the CPI was that
If CPI Below 2.9% = Bullish
If CPI Above 2.9% = Bearish
If CPI 2.9% = No Major Move.
Donald Trump will be taking over the US President officially from the swearing in ceremony by next Monday.
With all these kept in mind and with the macro economic factors, BTC is trading above 99K level.
At present BTC is trading at 99390 USD which is a up of 2.72% from yesterday.
The other major factors for BTC positivity includes
- El Salvador aims to increase its BTC adoption by expanding nodes to every home in this year.
- Osprey Funds made appeal to SEC for its approval to convert its Bitcoin trust to an exchange-traded fund (ETF).
- The Giant Finance House BlackRock launches iShares BTC ETF in Canada which makes the Bitcoin investment within a regulated framework is marking a major crypto milestone.
In the past 24 hours, BTC touched a low of $96,152.41 and high of $99,735.48.
It is to be noted that BTC has witnessed a major and significant price increase in the past 48 hours- which has gone up from $89,164 to $99,735.48.
Let's wait how it performs in the days to come with the Donald Trump Pump!
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