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Bitcoin Price Takes a Tumble, But ‘Buy the Dip’ Calls Spike

Published 12/06/2024, 07:25
Updated 12/06/2024, 08:15
© Reuters.  Bitcoin Price Takes a Tumble, But ‘Buy the Dip’ Calls Spike
BTC/USD
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Coin Edition -

  • Bitcoin’s price reacted sharply to the upcoming CPI report.
  • Experts predict the CPI report could significantly impact crypto prices.
  • Bitcoin’s recent dip has been met with both skepticism and optimism from analysts.

The United States awaits the release of the May 2024 Consumer Price Index (CPI) report, and blockchain analysis platform Santiment predicts Bitcoin (BTC) to react strongly.

In an X (formerly Twitter) post, Santiment stated that experts forecast a 3.4% year-over-year or 0.3% month-over-month increase for the US CPI, due on June 12th at 12:30 pm UTC.

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