Bitcoin has recently surged past $93,000 following the release of the CPI report. This significant milestone has caught the attention of many investors and analysts in the cryptocurrency market. As we continue to monitor the movement of Bitcoin, there are two additional macro events that are worth keeping an eye on.
The Consumer Price Index (CPI) report is a key indicator of inflation in the economy. The recent report showed a higher-than-expected increase in prices, which has sparked concerns about rising inflation. This has led many investors to turn to assets like Bitcoin as a hedge against inflation.
Another macro event to watch is the ongoing geopolitical tensions between Russia and Ukraine. These tensions have the potential to impact global markets and could have a ripple effect on the cryptocurrency market. Investors are closely monitoring the situation and how it may influence the price of Bitcoin.
Overall, the recent surge in Bitcoin price, coupled with the CPI report and geopolitical tensions, are important factors to consider when navigating the cryptocurrency market. Stay informed and stay alert as we continue to witness the evolution of Bitcoin and its impact on the broader financial landscape.