Macroeconomic data looks positive for Bitcoin, A new rally may not be far away
Bitcoin (BTC) is currently trading at $57,626. Inflation in the USA began to decline and expectations that the FED would cut interest rates began to increase. Economists expected annual inflation in the USA to be 3.1 percent and monthly inflation to be 0.1 percent, but it was announced below expectations. Inflation in the USA in June was announced as 3 percent on an annual basis and minus 0.1 percent on a monthly basis. The cost of living for American consumers decreased by 0.1 percent in June compared to the previous month. Additionally, the CPI decreased for the first time since May 2020.
There is still selling pressure on Bitcoin, so the downtrend is not over yet, but recently the selling pressure has started to decrease and the German government's selling pressure on Bitcoin is decreasing. Macroeconomic data is positive for Bitcoin, signaling that Bitcoin may start a new bullish trend in the near future. I remain optimistic about Bitcoin, and recent developments make me even more optimistic. I even believe Bitcoin could hit a new ATH this year, and I especially have high hopes that 2025 could be Bitcoin's best year. We'll wait and see.
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