This week, U.S. economic data will intervene in price formation in addition to internal fundamental events:
Tuesday, June 13Core CPI - 12:30 GMT
Wednesday, June 14PPI - 12:30 GMT
FED Interest Rate Decision- 18:00 GMT.
FOMC Statement - 18:00 GMT.
Overall, inflation data is of primary importance. The rate is unlikely to be raised if there are no surprises with CPI. And since an increase isn't priced in this time, an inflated figure could stir up major turbulence as early as Tuesday. However, if Tuesday's data comes in within or even below expectations, I believe the market will be able to relax and start to recover from Tuesday, without waiting for the decision on the rate. Therefore, the target for Bitcoin could be 27,500 and higher, barring any unforeseen events.
