Bitcoin price targets range from $19K to $25K as CPI day dawns
It's all about macroeconomic data this Valentine's Day as Bitcoin bulls face a test from a familiar source. Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin vs. CPI: "Expect volatility" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to expand beyond $21,800 ahead of the United States Consumer Price Index (CPI) print for January. Already called the “most important” CPI release, the data, due at 8:30am Eastern Time, is a classic volatility catalyst for risk assets. Crypto market participants thus expected a busy trading day, with both $19,000 and $25,000 on the table as potential targets depending on how far the results stay from estimates. “Will probably see that $24-25k Bitcoin pump if tomorrow morning's CPI number shows more dis Inflation in the positive direction,” Venturefounder, a contributor at on-chai...