Bitcoin Traders Wait for $50K as Key Signals Emerge
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Bitcoin price forecasts still favor lower macro lows as traders brace for US inflation data and renewed Japan-driven currency volatility.
Bitcoin starts the second week of February still on the defensive after last week’s sharp drawdown, with traders increasingly eyeing a deeper retracement toward $60,000 — and even $50,000 — before a durable macro bottom forms.
Market forecasts agree that Bitcoin price action has not yet put in a reliable long-term bottom.
CPI week comes as markets lose faith in Fed rate cuts in March.
US dollar strength begins to fade as analysts eye a potential rerun of 2021 for Bitcoin-dollar correlation.
Japan’s election turns heads, with analysis seeing a weaker yen and crypto headwinds to come.
Bitcoin miners send large amounts to exchanges as the dust settles on the snap downside.
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