Bitcoin (BTC) Poised for New All-Time High in Just Two Weeks, Analyst Reveals Key Drivers!

• Bitcoin’s potential to reach a new all-time high (ATH) has been a hot topic among investors.
• Recent data suggests a decrease in selling pressure from long-term holders, fueling bullish expectations.
• Markus Thielen, founder of 10X Research, has outlined key events that could drive Bitcoin to a new ATH.

Discover the critical factors that could propel Bitcoin to new heights, according to expert Markus Thielen.

Inflation Data as a Key Driver

Markus Thielen emphasizes the importance of June’s inflation data for Bitcoin’s price trajectory. He argues that if the Consumer Price Index (CPI) figures come in at 3.3% or lower, Bitcoin could potentially reach a new ATH. This is because lower inflation rates could reduce the Federal Reserve’s need to implement aggressive monetary tightening, thereby supporting risk assets like Bitcoin.

Impact of Spot ETF Inflows

In addition to inflation data, Thielen highlights the significance of strong spot ETF inflows. He believes that consistent and robust inflows into Bitcoin spot ETFs could provide the necessary liquidity and buying pressure to drive prices higher. Thielen is optimistic that these inflows will remain strong in the two weeks leading up to the release of the CPI data.

Potential Risks and Market Sentiment

While Thielen is bullish, he also acknowledges potential risks. If the CPI figures exceed expectations, the upward momentum in Bitcoin’s price could weaken. He notes that Bitcoin’s price movements are not random but are influenced by critical drivers such as inflation. Traders who understand Bitcoin’s reaction to CPI changes can make more informed trading decisions.

Conclusion

In summary, Markus Thielen identifies June’s inflation data and strong spot ETF inflows as pivotal factors that could drive Bitcoin to a new ATH. While there are risks associated with higher-than-expected inflation figures, the overall outlook remains positive. Investors should keep a close eye on these developments to better navigate the volatile crypto market.