Bitcoin has set a new record, surpassing $118,800, due to increased institutional investments and reduced exchange balances. This trend sets the stage for the upcoming CPI report in the US.
Institutional Investments and Bitcoin's Price Surge
Bitcoin reached a new peak above $118,800, highlighting a significant milestone driven by institutional inflows. Data reveals that large market players are anticipating the upcoming CPI figures.
Decrease of Bitcoin Reserves on Exchanges
The decreasing Bitcoin reserves on exchanges indicate the activity of long-term holders. Research shows a reduction of Bitcoin held on exchanges, reflecting increased interest from large investors.
CPI Report Expectations and Market Impact
Expectations surrounding the upcoming CPI report could trigger volatility in the market, influencing Bitcoin and related assets. Historically, such macroeconomic events have led to significant shifts in the crypto market.
The price dynamics of Bitcoin and the declining exchange reserves highlight growing institutional demand and constrained supply. CPI report expectations may influence further market volatility.