BTC Price Forecast: 10X Research Predicts New Highs on Low US CPI

BTC Price Forecast: 10X Research Predicts New Highs on Low US CPI

## 10X Research: Bitcoin Price Surge Possible with Lower May CPI Cryptocurrency market analysis firm 10X Research predicts a potential Bitcoin (BTC) rally if the US Consumer Price Index (CPI) growth rate falls below 3.3% in May. In a report published on May 29th, 10X Research analyzed Bitcoin price movements over several months. They observed a correlation between Bitcoin's direction and the CPI. Notably, when the CPI exceeded expectations in January, inflows into Bitcoin spot exchange-traded funds (ETFs) slowed down. However, as signs of inflation slowed in February, inflows resumed. Based on this analysis, 10X Research believes that the current trend of easing inflation should continue for the next two months, which could lead to sustained inflows into Bitcoin ETFs. The US CPI for May is scheduled to be announced on June 12th. If the CPI growth rate falls below 3.3%, it could trigger a surge in Bitcoin's price and potentially push it to new highs. This forecast aligns with other positive market indicators, such as the recent increase in Bitcoin's on-chain activity and the growing adoption of cryptocurrency by institutional investors. 10X Research's prediction highlights the potential impact of macroeconomic factors on the cryptocurrency market. Traders and investors should monitor the CPI announcement closely for possible implications on Bitcoin's price trajectory.