Bitcoin Magazine
Bitcoin Price Steady at $109,000 as Market Awaits CPI, Analysts Split on Direction
Hey there, crypto enthusiasts! So, Bitcoin is hanging tight around $109,000, sitting pretty in what the experts at QCP Capital describe as a "narrow-range equilibrium" before the release of Friday’s U.S. Consumer Price Index (CPI) data – one of the few indicators unaffected by the current U.S. government shutdown.
The Bitcoin Rollercoaster: What's Happening?
Let's delve into what's brewing in the Bitcoin world. The folks at QCP are calling the CPI a crucial factor for policy forecasts, suggesting that a modest 0.2% uptick could bolster risk assets and brighten liquidity sentiment. Until then, the market is at a standstill, teetering between careful optimism and profit-taking.
Analysts in Debate: Where Is Bitcoin Heading?
Now, here's where the plot thickens. Bitcoin has been on a downward spiral since its peak above $126,000 back on October 6, losing steam as traders mull over conflicting macro signals.
"The bullish streak is on the decline," cautioned John Glover via Yahoo Finance, painting a bearish picture that might stretch into late 2026. While Glover anticipates prices retracing towards $70,000–$80,000, he does recognize the potential for short-term rebounds to hit $124,000.
Bitcoin's Price Trajectory: Not a Full-Fledged Bear Market?
On the flip side, some view this downturn as a necessary recalibration. VanEck’s ChainCheck report labeled the pullback as a "liquidity-driven mid-cycle adjustment," steering clear of branding it as a complete bear market. The report highlighted normalized leverage, consistent on-chain activity, and Bitcoin's evolving role as a shield against fiat currency devaluation.
Market Insights and Predictions
- Asian trading hours shaping global trends due to liquidity shifts in Asia.
- Futures open interest stabilizing from a peak of $52 billion, paving the way for potential re-entry points.
- Standard Chartered's Geoffrey Kendrick staying optimistic, eyeing a drop below $100,000 as a buying opportunity with long-term projections soaring to $500,000 by 2028.
Despite the uncertainty, recent outflows from U.S. Bitcoin and Ethereum ETFs hint at a cooling institutional interest, but the tide might turn with big players like T. Rowe Price gearing up to launch a cryptocurrency-focused ETF. Exciting times ahead!
Looking for more insights? Check out the full article here and stay tuned for the latest updates from Bitcoin Magazine.
CFTC
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Do you want to keep your IRA gold at home? It's Not Exactly Legal – WSJ
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
Three ways to invest in gold for retirement
It's important to understand how gold fits in with your retirement plan. You have many options for investing in gold if there is a 401K account at your workplace. You may also be interested in investing in gold beyond your workplace. You could, for example, open a custodial bank account at Fidelity Investments if your IRA (Individual Retirement Account) is open. You might also consider purchasing precious metals directly from a trusted dealer if they are not already yours.
These are the rules for gold investing:
- You can buy gold with your cash – No need to use credit cards or borrow money for investment financing. Instead, invest in cash. This will help you to protect yourself against inflation while also preserving your purchasing power.
- Physical Gold Coins You Should Buy – Physical gold coins should be purchased over a paper certificate. It's easier to sell physical gold coins rather than certificates. Physical gold coins are also free from storage fees.
- Diversify Your Portfolio – Never put all of your eggs in one basket. By investing in multiple assets, you can spread your wealth. This helps reduce risk and gives you more flexibility during market volatility.
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