Friday’s US inflation report may catalyze a Bitcoin April rally
Bitcoin could rally to $110,000 as investors await key PCE inflation data out of the US, with analysts saying easing macro risks may trigger a strong April performance.
Traditional and cryptocurrency investors eagerly await Friday’s Personal Consumption Expenditures (PCE) release in the US, which may provide some relief to inflation-related concerns and increase investor appetite for risk assets, including Bitcoin.
The US Bureau of Economic Analysis (BEA) will release on March 28 the next PCE report, which measures the inflation of prices US consumers are paying for goods and services.
The PCE inflation print may become the “next key catalyst” for Bitcoin (BTC) and other risk assets, according to QCP Group, a Singapore-based digital asset firm.
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Author: Zoltan Vardai
