The Crypto Community Eyes Three Macro Events To Tip The Crypto Scales In July
Despite the bleak macro forecasts, some leading crypto pundits view the recent macro-catalyzed crypto market crash as a sign generally positive for the industry.
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The crypto community is looking at three key dates this month that could have a profound impact on the trajectory of the crypto market and the broader US macroeconomic environment this year.
On July 13, the monthly Consumer Price Index (CPI) and inflation data will be released. On July 26 and 27, a decision will be made on whether to raise interest rates further, while on July 28, estimates of US gross domestic product (GDP) for the second quarter of 2022 will tell us if the country is in a technical recession.< /p> July 13: inflation marker, CPI
Micahel van de Poppe, CEO and founder of crypto advisory and education platform EightGlobal, told his 614,300 Twitter followers on July 4 that "all eyes are on the data from 'CPI Next Week', adding a bullish forecast for Bitcoin should it break above its $20,000 price level.
Fuzzy chart, but I'd be looking at $28,000 for #Bitcoin, if there's a chance that $20,000 could be returned (and between both, I d watch $23,000).
All eyes are on the CPI data next week and the Fed, but that would make sense. pic.twitter.com/pcWwEmkoHT
— Michael van de Poppe (@CryptoMichNL) July 4, 2022The co-founder of the Crypto Academy, known on Twitter as 'Wolves of Crypto', told his followers to keep an eye on the date, adding that a lower than expected CPI "could be the catalyst for a “dead cat” bounce for Bitcoin.
“All eyes are on the CPI numbers on July 13. If the CPI drops, it will be the catalyst for a dead cat bounce.”
The CPI is one of the benchmarks for assessing the progression of inflation by measuring the average change in consumer prices on the basis of a representative basket of household goods and services.
The continued rise in inflation could have an impact on demand...
Despite the bleak macro forecasts, some leading crypto pundits view the recent macro-catalyzed crypto market crash as a sign generally positive for the industry.
New
The crypto community is looking at three key dates this month that could have a profound impact on the trajectory of the crypto market and the broader US macroeconomic environment this year.
On July 13, the monthly Consumer Price Index (CPI) and inflation data will be released. On July 26 and 27, a decision will be made on whether to raise interest rates further, while on July 28, estimates of US gross domestic product (GDP) for the second quarter of 2022 will tell us if the country is in a technical recession.< /p> July 13: inflation marker, CPI
Micahel van de Poppe, CEO and founder of crypto advisory and education platform EightGlobal, told his 614,300 Twitter followers on July 4 that "all eyes are on the data from 'CPI Next Week', adding a bullish forecast for Bitcoin should it break above its $20,000 price level.
Fuzzy chart, but I'd be looking at $28,000 for #Bitcoin, if there's a chance that $20,000 could be returned (and between both, I d watch $23,000).
All eyes are on the CPI data next week and the Fed, but that would make sense. pic.twitter.com/pcWwEmkoHT
— Michael van de Poppe (@CryptoMichNL) July 4, 2022The co-founder of the Crypto Academy, known on Twitter as 'Wolves of Crypto', told his followers to keep an eye on the date, adding that a lower than expected CPI "could be the catalyst for a “dead cat” bounce for Bitcoin.
“All eyes are on the CPI numbers on July 13. If the CPI drops, it will be the catalyst for a dead cat bounce.”
The CPI is one of the benchmarks for assessing the progression of inflation by measuring the average change in consumer prices on the basis of a representative basket of household goods and services.
The continued rise in inflation could have an impact on demand...
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