TechFlow news, according to the latest article from 10x Research, the U.S. economy is slowing down—and for now, that's a good thing. GDP is barely above 1%, the ISM manufacturing index has been in contraction for several consecutive months, and the labor market continues to weaken, negatively impacting consumer spending. Last night, another key and forward-looking employment indicator, "job openings," slowed significantly. All of these factors will contribute to lower inflation.
This Friday we will receive more employment data; a weaker-than-expected result could lead to rate cuts. Next week, we will get the CPI inflation report. If CPI comes in at 3.3% year-on-year or lower, it could push Bitcoin to new all-time highs.
A close driven by softer U.S. employment or declining inflation will undoubtedly set a new all-time high between this Friday and next Wednesday. Therefore, we expect Bitcoin to reach a new all-time high (>73,500) by next weekend.
