Bitcoin, stocks shun CPI print win and give up tariff relief gains — Will BTC whales save the day?

Key Points

  • Bitcoin and stocks drop despite positive US inflation data.
  • BTC price volatility increased around the CPI data release.
  • US stocks ignored the positive inflation news, with major indices like the S&P 500 and Nasdaq falling.
  • Market sentiment suggests that declining inflation might encourage further trade war actions by Trump.
  • Bitcoin's price recovery might depend on large traders like "Spoofy the Whale."

Summary

The article discusses the unexpected market reactions following the release of the US Consumer Price Index (CPI) data, which indicated a decline in inflation. Despite this positive economic indicator, both Bitcoin and US stocks experienced declines. The CPI data showed a year-over-year increase of 2.4% for all items, marking the lowest inflation rate in four years, yet this did not bolster investor confidence. Instead, major stock indices like the S&P 500 and Nasdaq Composite fell by 3% and 3.7% respectively, suggesting that markets might be bracing for continued trade tensions. Bitcoin's price also saw volatility, with traders and analysts focusing on key resistance levels and the potential influence of large traders, referred to as "whales," to push the price towards significant psychological and technical levels. The article highlights the complex interplay between economic indicators, market sentiment, and trading strategies in the cryptocurrency and stock markets.

cointelegraph
April 10, 2025
Crypto
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