Bitcoin Price Closes in on All-Time High as Traders Await Key Inflation Data

Bitcoin is expected to interrupt its maximum this month because the positive macroeconomic chances continue to support the risk property, including Kripto, experts said Decipher Sunday.

The weekend rally helped undo the losses that testified last week, and Bitcoin increased by 4.5% of Saturday open and pushing the top cryptocurrency to trade only shy on July 14, the maximum of $ 122,838, according to Coingecko.

Open interest also rose by 7,834 BTC with a volume of volumes and permanent purchases, data From the Coinalyze platform from Derivat, with signs, the move is primarily encouraged by speculative long positioning.

“There are still a lot of fuel left for this bull,” said Sean Dawson, head of research on the Options on Dervie Chain Options, said Decipher. Bitcoin is expected to hit “$ 150,000 before the end of the year”, based on volatility data.

The prices of cryptocurrencies climbed in last week’s rally in Technological stocksA rush that coincided with the optimism of investors over the reduction of US US rates.

Increased connectivity between Nasdaq and Bitcoin “explains the recent price of action”, Ecoinometrics aimed at the cryptocurrency wrote In Sunday’s post on X.

“Bitcoin may be digital gold, but she trades like risky property. What really matters is whether markets are at risk or risk regime,” she wrote.

Markets are now focusing their focus on a report on consumer prices index in July, Tuesday. Economists expect 10 base points at the annual inflation rate at 2.8%.

A softer printing from the expected could increase expectations to reduce the Fed rate in September.

“We see the mouth of numerous macro and political factors that could send the prices that rose,” Dawson said. “Crypto usually works very well in low -speed environments.”

Still, some merchants position the defense. Dawson noticed increased demand for the options put, suggesting increasing concern about potential surprise in inflation information.

This could cause “mini panic” and could lead to a “sharp fall,” Dawson added.