Nerves are showing on the market after several days of Bitcoin “stuck” in a tiny trading range.
Bitcoin (BTC) began Oct. 13 with classic fluctuations around $19,000 as markets prepared for crucial macro data.
No sign of upside ahead of key U.S. data
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD threatening downside at the time of writing with hours to go until the United States Consumer Price Index (CPI) print for September.
Expected at 6.5% year-on-year as per a Bloomberg survey, core inflation was tipped to unsettle risk asset markets by showing a potential reversal of previously falling inflation numbers.
CPI itself was expected to decrease modestly to 8.1% from its previous 8.3% year-on-year gains.
“Markets selling off as fears go through the roof for CPI today,” Michaël van de Poppe, CEO and founder of trading firm Eight, wrote in a fresh Twitter update:
“Maybe most hyped data point of the year.”
Known as a source of volatility, CPI events have often sparked unusual short-term price moves both up and down, these frequently reversing multiple times to
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