Friday’s PCE inflation report may catalyze a Bitcoin April rally

Traditional and cryptocurrency investors are impatiently awaiting the next release of personal consumption expenses on Friday, which can provide more relief to inflation concerns and provide more appetite from investors to risk assets, including bitcoin.

The American Economic Analysis Bureau (BEA) should publish the next PCE report on March 28, which measures price inflation that US consumers pay for goods and services.

The impression of the inflation of the PCE can become the “Key Catalyst following” Bitcoin (BTC) and other risk assets, according to QCP Group, a Singapore -based digital asset company.

QCP wrote on Telegram:

“While we are approaching the quarterly expiration of Friday, with the highest open interest in the upper strikes above $ 100,000, we do not expect the major volatility to be motivated by the positioning of the options. But attention will turn to the impression of the inflation of the PCE, which could become the next key catalyst. ”

Risk assets organized a significant recovery after “Trump reported twice on Monday that business partners could obtain exemptions or discounts, offering a stay that helped to appease the agitation of the market,” added QCP.

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Other analysts have also highlighted the world concerns of trade war as the biggest obstacle for the appetite of investors.

Despite a multitude of positive developments specific to crypto, the fears of world prices will continue to put pressure on the markets until April 2 at least on 2, according to Nicolai SONDERGAARD, research analyst at Nansen.

“I can’t wait to see what’s going on with the prices from April 2, we may see that some of them have been abandoned, but it depends if all countries can agree,” said Singuegaard.

The Bitcoin price has dropped by more than 14% since US President Donald Trump announced for the first time the import prices on Chinese products on January 20, the day of its presidential inauguration.

However, analysts expect the PCE’s report more soothing the concerns related to inflation, catalyzing the historic Bitcoin rally for the month of April.

Bitcoin has an average of more than 12.9% monthly yield in April, making it the fourth best month for the price of Bitcoin according to historical yields, according to Corglass data.

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Bitcoin can get back to $ 110,000 higher on inflation concerns

Bitcoin is more likely to rise to a new summit of $ 110,000 before awarding $ 76,500, according to Arthur Hayes, co-founder of Bitmex and investment director of Maelstrom.

The rise of Bitcoin at the $ 110,000 mark “seems plausible in the environment of the current market”, according to Juan Pellicer, main research analyst at Intotheblock.

“BTC shows signs of recovery, driven by the growth of institutional interests and the significant investments of major players,” said the analyst at Cointelegraph, adding: adding: adding: adding: adding: adding: adding: adding: adding:

“The recent decision of the Federal Reserve to relieve its monetary tightening could further increase liquidity, promoting a short -term price increase.”

“Although market volatility remains a risk that could lead to a decline, the overall momentum and the support levels suggest that Bitcoin is more likely to reach the higher target,” added Pellice.

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