Here’s why Bitcoin traders shouldn’t overanalyze US inflation data By Cointelegraph

Feb 12, 2022


© Reuters.

Analysts and pundits will scramble to search out some angle to elucidate intra-day worth motion every time necessary financial numbers are printed and this follow is commonplace within the crypto sector.

When the USA Bureau of Labor Statistics reported a 7.5% enhance within the Client Worth Index (CPI) on Feb. 10, merchants rushed to search out some connection to the crypto worth motion. Nevertheless, historic correlation information reveals traders ought to really intently scrutinize whether or not there’s even a relation between (BTC) and main financial indicators.

U.S. CPI (orange, left) vs. Bitcoin/USD (blue, proper). Supply: TradingView
Bitcoin, S&P500, WTI Oil, and TIP ETF 30-day correlation charts. Supply: TradingView