Fr. Apr 12th, 2024

• Bitcoin (BTC) has shown strength and is looking to form $30,000 as a strong support level.
• US CPI inflation data cooled down, giving investors hope for a pause in interest rate hikes by the Fed.
• London Stock Exchange (LSEG) announced that it will introduce Bitcoin futures and options trading into its offering.

Bitcoin Stable at $30K as Investors React to Inflation Data

The world’s largest cryptocurrency Bitcoin (BTC) continues to show strength and is forming $30,000 as a strong support level. After the US CPI inflation data came on Wednesday, April 12, investors saw some minor volatility but BTC managed to hold firmly above $30K. The US CPI numbers jumped by 0.1%, which was lower than expected at 0.2%. The Core CPI also showed slower growth with 0.4% against the expected 0.5%.

Investors Gear Up for 2024 Halving

On-chain data shows that investors have continued to add Bitcoin in recent times ahead of the 2024 halving event. Wallets holding between one and 99 BTC and those with more than 10,000 BTC have both surged since January this year. Similarly wallets holding between 100 and 9,999 BTC have also been growing steadily over the same period. Since the beginning of 2023, Bitcoin has delivered a staggering 80% returns beating every other asset class by a wide margin with its current price standing at around $30k per coin.

London Stock Exchange Offers Bitcoin Futures & Options Trading

In an effort to further expand its offering London Stock Exchange (LSEG) recently announced that it will introduce Bitcoin futures and options trading into its exchange platform making Britain home to first regulated trading and clearing of these derivatives assets classes . For this LSEG joined hands with institutional-grade digital trading venues such as Global Futures and Options (GFO-X). GFO-X further teamed up with LCH SA for the clearing of cash-settled cryptocurrency index derivatives adding another layer of safety when dealing with such assets classes.

Conclusion: Is The Rally Sustainable?

Recent developments surrounding bitcoin are good signs for long term investors who are betting on cryptocurrencies as an alternative asset class or store of value however only time will tell if this rally is sustainable or not . With upcoming events like halving which should reduce supply while demand is increasing , it looks likely that bitcoin prices should stay above their current levels but any unexpected news can cause wild swings in either direction so invest wisely !


• The US CPI inflation cooling gave investors hopes for a pause in interest rate hikes by the Fed leading them to add bitcoins • London Stock Exchange now offers regulated trading & clearing of bitcoin futures & options • On-chain data shows steady increase in wallets holding certain amounts of Bitcoins • Investing in bitcoin comes with high risk so do your own research before investing

Von admin