10x Research: Bitcoin's performance year-to-date has fallen significantly short of expectations, and the market is focused on the CPI set to be released on July 15.
According to 10x Research analysis, despite over $63 billion in liquidity flooding into the crypto market, Bitcoin has only risen 13% year-to-date, far below expectations.
Currently, U.S. inflation has decreased from 3.5% in April 2024 to a stable 2.4% for three consecutive months, below the 3% warning previously issued by Federal Reserve Chairman Powell. At the same time, the unemployment rate has remained stable at 4.2% for nearly a year, alleviating concerns about a deteriorating labor market. Against this backdrop, as the inflation window triggered by tariffs narrows, the market is focusing on the CPI set to be released on July 15. Typically, Bitcoin prices have a certain correlation with U.S. CPI data; previously, 10x Research has pointed out that lower CPI data often drives Bitcoin prices up. Therefore, the CPI data released on July 15 could have a significant impact on Bitcoin's future trend. $BTC