Crypto experts put the point: How much of an increase can come?

Demand among retail crypto investors has fallen to a five-month low, falling to levels last seen in January; this resulted in a 75 percent increase over the next two months.

According to information shared by CryptoQuant writer Axel Adler with

Adler added that a “previous decline similar to minus 18 percent” in January saw Bitcoin rise from $40,000 to $70,000; Bitcoin, spot Bitcoin exchange traded funds ( ETF‘s) rose after it was approved in the USA, pushing Bitcoin to mid-March. “I also noticed that this cluster reacts quickly to any random market change,” Adler said.

The value of macro information in cryptocurrencies is increasing

Last month, Adler used a one-to-one measure to show that demand fell by 31 percent in the 17 days before May 24, to minus 14.50 percent. Analysts have previously suggested that the change in Bitcoin demand is due to various factors, including the US Consumer Price Index (CPI), which tracks inflation.

When the CPI falls, it may make assets perceived as riskier, such as Bitcoin, more attractive to investors, as traditional savings and term deposits provide less profitable returns as interest rates fall.

Markus Thielen, principal researcher at 10x Research, told Cointelegraph in May that the CPI would need to rise to 3.3 percent on June 12 (the date the Bureau of Labor Statistics (BLS) will release the data) for Bitcoin to reach all-time highs. He said it should fall.

On June 11, Bitcoin fell below the asset’s all-time high of $69,000 in November 2021, a level closely watched by investors.

The sudden drop wiped out $52.87 million worth of Bitcoin long positions in the past day. Open Income (OI) remained above the closely watched $35 billion level, according to CoinGlass data. Despite investors’ hopes that Bitcoin would quickly rise above $70,000 after falling below it on June 8, Bitcoin has now failed to do so.

Despite the CPI results to be announced on June 12, future traders do not seem to expect a recovery in the near term; If there is a recovery, there is a short situation risk of $2.14 billion.