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Could Bitcoin's Next Big Move Hinge on The US CPI Data?

October has a history of being a month of big gains, but what, if anything, will trigger things this year?

Author

Rich Webb
October 08, 2024 • Read Time: 7 minutes

As Bitcoin teeters around the $60,000 mark, all eyes are on this week's U.S. Consumer Price Index (CPI) data. It's the economic metric that might just set the crypto world abuzz, influencing traders' next big moves.

Could a slight CPI uptick tank wavering confidence, or will it be the catalyst for a fresh rally?

Uptober certainly isn’t over yet, as it isn’t unusual to see a slow start to the month. However, the longer we move sideways at this level, the more concern there will be. Let's dive in!

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