Bitcoin Price Target of $200K by Year-End Set After U.S. Inflation Data
U.S. inflation data released Wednesday shows a softer-than-expected increase, potentially benefiting Bitcoin (BTC). Key points include:
- Inflation rose by 0.1% in May, lower than the expected 0.2%.
- The annual CPI increased by 2.4%, with core inflation steady at 2.8%.
- Matt Mena from 21Shares forecasts BTC could reach $200,000 by year-end if it breaks above the $105K-$110K range.
- Traders are now pricing in expectations for two rate cuts from the Federal Reserve this year due to cooling inflation.
- Mena highlights factors such as institutional adoption and stablecoin regulation as bullish catalysts for Bitcoin.
- At press time, BTC was valued at $108,440.
The report indicates an evolving landscape for Bitcoin investments amid potential policy easing and improved macroeconomic conditions.