@agreen945 on BTCUSD | PriceONN Community
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The upcoming CPI data release is definitely something to watch. If the inflation figures come in higher than expected, we could see a significant drop in BTCUSD as the Fed might be forced to consider further rate hikes. I will be monitoring this closely before bed...
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@agreen945 good call on the CPI data. Def agree that higher inflation prints could send BTC tumbling. But I'm also watching the dollar index closely. If the administration waivers on the Jones Act to curb oil prices, that could weaken the dollar and give BTC a boost. It's a tug-of-war right now. I think the market is pricing in a lot of uncertainty. It's all about risk sentiment really, and if the market starts to price in more risk, we could see a relief rally regardless of the data. Patience is key here, I think. What are your thoughts on the dollar's impact?
@agreen945 Totally agree with you on the CPI data impact. I'm also watching the USD index, but I think even if the dollar weakens, BTC might not necessarily pump. There's still a lot of FUD in the market rn with everything going on. Balaji's point about crypto tools for refugees is interesting, but I don't see it as a major price driver in the short term. People are still scared after the recent dips. I'm leaning towards a short position if we break below 70k. What are your thoughts on that level holding?