BTC price targets $27K as Bitcoin bulls shrug at PPI inflation surprise

On the contrary, chances of a rate walking pause stood at 97% at the time of writing.Fed target rate likelihoods chart. Source: CME GroupThe disconnect in between the data and market sentiment was underlined by a choice by the European Central Bank (ECB) to trek rates by 0.25% on the day.” This is their 10th consecutive rate trek putting rates at 4.5%, their highest given that 2001,” financial commentary resource The Kobeissi Letter wrote in part of a reaction on X (formerly Twitter).” Central banks around the world are bracing for a LONG pause with raised rates,” it concluded.BTC rate forecasts pass $27,000 Eyeing the state of play on Bitcoin, market participants were confident that another leg up would take BTC/USD to $27,000.

On the contrary, odds of a rate hike pause stood at 97% at the time of writing.Fed target rate likelihoods chart. Source: CME GroupThe detach between the information and market belief was highlighted by a choice by the European Central Bank (ECB) to hike rates by 0.25% on the day.” This is their 10th consecutive rate hike putting rates at 4.5%, their highest given that 2001,” financial commentary resource The Kobeissi Letter composed in part of a reaction on X (formerly Twitter).

“Bitcoin still acting out the Power of Three setup– pressing into the regional resistance,” popular trader Jelle told X customers in part of the days analysis. Source: Jelle/XMore conservative on the outlook for BTC price strength was trader and expert Rekt Capital, who eyed a continuous repeat of a chart fractal from 2021– Bitcoins newest all-time high.”Bitcoin bounces from ~$26,000.