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Bitcoin’s ATH Case Just Got Stronger Due to This Macro Signal
The recent surge in the price of Bitcoin (BTC) has led many to wonder if it is finally time for the cryptocurrency to reach its all-time high. The latest data suggests that this may not be a fleeting hype, but rather a sign of more significant macro forces at play.
In this setup, it’s crucial to understand that Bitcoin’s rally isn’t solely driven by hype. Instead, there are real macro factors fueling the move. With the upcoming CPI (Consumer Price Index) release slated for tomorrow, some volatility may be expected. However, in this context, such volatility could actually push things further.
As seen on charts, Bitcoin has already rallied by a significant 10% from its $109K zone, securing five consecutive higher highs. Before its slight dip at press time, the cryptocurrency even reached as high as $122,056, reinforcing its underlying bid support. But is it too early to anticipate a smooth rally from here? The upcoming macro data for June may bring some turbulence back into the market.
According to Bloomberg, they are projecting a 0.3% rise in core CPI, which would be the largest month-over-month increase in five months. This development can largely be attributed to Trump’s recent tariffs. However, surprisingly, this macro FUD (Fear, Uncertainty, and Doubt) is not derailing the rally. Instead, it may be driving it.
Bitcoin’s 12% weekly gains could potentially signify the beginning of a shift away from these broader macro stresses. Despite renewed tariff threats, there has been no post-Liberation Day-style collapse. In light of this, it appears that Bitcoin is now ignoring such pressures and instead focusing on risk-on sentiment.
Source: ambcrypto.com
