21Shares Analyst: Lower-than-Expected Inflation Data Lays Foundation for Bitcoin's Surge, Could Reach $200,000 by Year-End

On June 12th: According to a report by Coindesk, Matt Mena, a crypto research strategist at 21Shares, stated that the lower-than-expected U.S. inflation data this Wednesday could lay the groundwork for the accelerated growth of Bitcoin. By the end of this year, the price of Bitcoin might reach $200,000. If Bitcoin can strongly break through the range of $105,000 to $110,000, it could see prices quickly rise to $120,000. More importantly, it could potentially reach the target price of $138,500 by late summer. Matt Mena explained that the continuous cooling trend of inflation strengthens the possibility of policy easing later this year. As the June FOMC meeting of the Federal Reserve approaches, the market's focus has shifted to how policymakers will respond to the cooling inflation and the clearer macroeconomic outlook. This CPI report has led traders to raise their expectations for the total rate cuts of the Fed this year to 47 basis points (equivalent to approximately two 25-basis-point cuts), which is higher than 42 basis points earlier this week. Additionally, the market has fully priced in a rate cut by October, and the probability of a rate cut in September remains above 70%.