#Bitcoin cools, CPI data attracts attention#
Hot Topic Overview
Overview
Currently, the Bitcoin market is in a wait-and-see mode, with investors adopting a cautious stance ahead of the upcoming US CPI data for December. The CPI data is crucial for the digital asset market due to the Fed's hawkish stance and Bitcoin's increasing correlation with tech stocks. The stagnation of stablecoin inflows has also raised questions about Bitcoin's ability to sustain a rebound. Experts expect that if the CPI data comes in lower than expected, it could trigger a Bitcoin rally. Meanwhile, XRP and AI tokens are showing active performance, and these tokens could potentially reap greater gains if the CPI data stimulates a return of risk appetite in the financial markets.
Ace Hot Topic Analysis
Analysis
Bitcoin is currently rangebound with the market cautiously awaiting the upcoming US December CPI data release. Wednesday's CPI data is crucial for the digital asset market given the prevailing hawkish sentiment from the Fed and Bitcoin's increasing correlation with tech stocks. Stagnant liquidity inflows from stablecoins are also raising questions about the sustainability of Bitcoin's recovery from below $90,000, with traders preparing for potential downside volatility by increasing short-term put options. Experts believe that if the CPI data comes in below expectations, it could trigger a Bitcoin bounce. Meanwhile, XRP and AI tokens are showing signs of life and could see bigger gains if the CPI data rekindles risk appetite across financial markets.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
CPI data has a significant impact on the digital asset market, especially Bitcoin, as its correlation with tech stocks has increased and Fed hawkish concerns are widespread.
Market expectations are for CPI data to rise, and if the data comes in below expectations, it could trigger a Bitcoin rebound.
Stablecoin inflows are stagnant, raising questions about the sustainability of Bitcoin's price recovery from below $90,000.
Traders are preparing for potential downside volatility by increasing short-term put options.