I got the call wrong — Bitcoin is getting interesting.
CPI came in at 3.4% as expected, and Bitcoin reacted with a strong move higher. Now the big question is whether Bitcoin can push toward $80K.
Inflation is still high at 0.3%, while rate-hike expectations have jumped to 90%.
Tom Lee sees a 0% chance of a September hike.
No hike → Bitcoin could pump again.
Hike + Japan hike → Bitcoin could drop toward $75K–$74K.
CPI came in at 3.4% as expected, and Bitcoin reacted with a strong move higher. Now the big question is whether Bitcoin can push toward $80K.
Inflation is still high at 0.3%, while rate-hike expectations have jumped to 90%.
Tom Lee sees a 0% chance of a September hike.
No hike → Bitcoin could pump again.
Hike + Japan hike → Bitcoin could drop toward $75K–$74K.