Matrixport: BTC may rebound after the release of U.S. CPI data, expected to reach $45,000 by the end of the year

2023-11-13 14:04:33

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ChainCatcher news, Matrixport, a cryptocurrency financial services company under Wu Jihan, stated that in the first half of 2024, several key events could impact the trajectory of Bitcoin, including the SEC's approval of a Bitcoin ETF, Circle's potential IPO, and FTX's efforts to regain its position among the top three exchanges.

These events, along with Bitcoin's halving cycle and Ethereum's upgrade in the first quarter of 2024, are shaping an optimistic outlook.

In line with market expectations, the Federal Reserve may cut interest rates in mid-2024. Bitcoin could see a rebound after the release of the U.S. Consumer Price Index (CPI) data, striving to break through $36,000, targeting $40,000, and aiming to reach $45,000 by the end of the year.

Additionally, stable buying activity from U.S. buyers and the possibility of a Santa Claus rally also bring a positive outlook to the market.

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Matrixport CPI Bitcoin halving

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