EVERYBODY WANTS TO KNOW - Our Latest Bitcoin Views

👇1-11) Traders expected that Bitcoin would move by +/-6% after the US CPI was released, and this is precisely how much Bitcoin rallied after inflation printed marginally below Wall Street expectations. Our model also predicted this marginally lower inflation number, and despite inflation likely remaining sticky for the following 1-2 prints, the data will materially improve by late summer.

👇2-11) This will remove Bitcoin's downside risk, the overhanging factor during the last two months. Although not every indicator or market structure is supportive, this inflation print has to be interpreted as supportive for risk assets. The ETF buyers in Q1 might not return as the funding rate remains too low, but a new set of wealth advisors might be ready to step in.

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