QCP: Buying Increases in Bitcoin for Now, Donald Trump is Expected! - Coin Bulletin

Investors in the Bitcoin and cryptocurrency market are now waiting for Donald Trump after yesterday's announcement of US inflation data.

According to a new analysis by QCP Capital, the US inflation data released yesterday caused movement in Bitcoin and cryptocurrencies with (CPI), and now they are focused on Donald Trump's inflation statements to determine the direction.

QCP Capital, evaluating the recent market fluctuations, stated that the "buy when blood flows" strategy worked this time as well. With US inflation data exceeding expectations, there were sharp sell-offs in the markets, and as expectations for a Fed rate cut were postponed to December, investors viewed this decline as a buying opportunity.

QCP Capital, drawing attention to the movement in the cryptocurrency market, stated that Bitcoin declined from 96,500 dollars to 94,000 dollars after the inflation data, but found support at 94,000 dollars, and rose to 98,000 dollars with a 4.4% recovery.

Strong buying appetite in Bitcoin

QCP Capital emphasized the notable short-term movements in the options market. Analysts pointed out the intense interest in contracts expiring on February 14th, particularly highlighting demand for call options between 97,000 and 100,000 dollars.

In the market, the focus is on the reaction of former US president Trump to inflation data. According to QCP Capital, even if Trump increases pressure for a rate cut from the Fed, Fed Chairman Powell will continue to focus on current economic data. Powell's commitment to data-dependent stance will determine the volatility in the markets.

According to data from CoinGecko, Bitcoin is trading at $96,626 at the time of writing.