Mooners and Shakers: Bitcoin holds but all eyes are on looming CPI inflation data; Gox Mountain Impact is also lurking - Stockhead
Mooners and Shakers is sponsored by Dacxi, the world’s first purpose-built Crypto Wealth platform. Bitcoin lost a nice, round, $20K psychological mark earlier, but has managed to find some decent support above $19.6k, at the time of writing. Meanwhile, the CPI inflation data on Wednesday July 13 in the US, and all the technical analysis in the world today may not be able to keep up with the results. Is it as simple as: lower-than-expected inflation, rising crypto/risk assets; high inflation, crypto assets/risk down? Perhaps, despite the old high inflation “entry price” argument is also floating again. Perhaps the real kicker will come when the US Federal Reserve announces its response to the July 26-27 CPI inflation data with the possibility of another 0.75bp rate hike. Right, got it – inflation… macro sucks right now… is there anything else scaring the market, other than crypto also doing its best to burn internally through the “contagion” effect of Terra LUNA, Celsius and 3AC et al