Bitcoin bulls and bears exploded and continued to rise! Is it expected to break through 60,000 this week?

Bitcoin has experienced violent fluctuations. Before and after the release of US inflation data, the price once rose to US$58,000, and then fell to US$55,550. In the end, the bulls exerted their strength again and pushed the price back above US$58,000.

1. Mixed inflation data in the United States

Overall inflation has dropped significantly, but core inflation has increased slightly, which may limit the ability of the Federal Reserve to cut interest rates sharply, and the market is generally negative about this.

2. Policy trends of the Federal Reserve in the United States

The Federal Reserve in the United States will decide whether to cut interest rates based on inflation and employment data. If inflation is low and employment is good, the Federal Reserve in the United States may choose to cut interest rates, which will have a positive impact on the price of Bitcoin.

3. Bitcoin price trend

The current price of Bitcoin is close to the pressure line of US$58,500 again. The market is observing whether it can successfully break through this time. Once it breaks through, there is hope for $60,000 above. If the breakthrough and stabilization cannot be completed in the remaining two trading days this week, bullish sentiment may decline next week.

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