The U.S. inflation report due today might influence bitcoin’s market performance. Historically, January inflation data shows significant price increases, with last year’s figures ending a series of lower readings. Businesses often adjust prices at the year’s start, potentially leading to a higher-than-expected inflation report. This could signal more work for monetary policy, as suggested by Dallas Fed President Lorie Logan. The Federal Reserve has already reduced interest rates by 100 basis points last year but isn’t rushing further adjustments. Meanwhile, demand for bitcoin remains strong, with Japanese mobile-game studio Gumi planning to accumulate $6.6 million worth of BTC, and KULR Technology Group increasing its holdings to 610.3 bitcoin. However, caution prevails among U.S. traders, as indicated by a negative Coinbase premium. Research firm BCA Research warns of potential market cycle peaks, while a recent JPMorgan report notes a 24% drop in total trading volumes last month.
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