BTC traders wait for $50K bottom: Five things to know in Bitcoin this week
Bitcoin price forecasts still favor lower macro lows as traders brace for US inflation data and renewed Japan-driven currency volatility.
Bitcoin (BTC) starts the second week of February still on the defensive after last week’s sharp drawdown, with traders increasingly eyeing a deeper retracement toward $60,000 — and even $50,000 — before a durable macro bottom forms.
Market forecasts agree that Bitcoin price action has not yet put in a reliable long-term bottom.
CPI week comes as markets lose faith in Fed rate cuts in March.