Bitcoin, which declined to $ 42,000 with the effect of the hard selling wave in the past days and reached the $ 50,000 limit again with the reaction from this level, is trading at $ 48,000 again today.
We observe that Bitcoin, which does not break its correlation with the global markets, moves according to the situation in the US markets. For this reason, US market openings at 17.30 TSI during the day have an important place.
When we look at the US side, an important data will be announced today. In an environment where the Omicron variant lowers the risk appetite and increases the uneasiness, the upcoming US inflation data will be decisive in the direction of the markets.
The fact that the US inflation data is among the important agenda items of the FED and that it has the power to affect the future of monetary policy increases its importance. For this reason, it is closely followed by all investors.
Inflation in the USA is expected to increase by 0.5%-0.7% in November.
The 0.9% increase in October inflation in the previous month brought the new ATH in Bitcoin and the price had risen sharply to $69,000. Faced with the highest inflation in the last 31 years, it is evaluated that today’s data may cause high volatility in the markets.
Inflation data is expected to be announced at 16.30 TSI.
*Not Investment Advice.