Analysts have emphasized the importance of Bitcoin maintaining the $55,000 level, as this could potentially reignite an upward trend in the market. The key factor influencing this scenario will be the Consumer Price Index (CPI) report.
Confidence in this forecast is bolstered by the similarities between the current market situation and that of 2019. Julien Bittel, head of macroeconomic research at Global Macro Investor, pointed out the presence of an “almost perfect fractal” pattern:
“We are approaching a critical juncture where significant movements could occur.”
Presto Research also highlighted the record hash rate of the Bitcoin network, suggesting that this asset is “significantly undervalued.”
