Matrixport released its latest daily chart analysis on February 12th, emphasizing the persistent market appetite for safe-haven assets despite inflation appearing under control. The analysis indicates that while Bitcoin has recently entered a consolidation phase, this may fortify its price dynamics. Concurrently, the price of gold has surpassed $2,912 per ounce—a staggering 50% jump from its previous milestone of $2,000. Currently, Bitcoin’s price hovers around $96,000. Notably, although the overall inflation rate sits at 2.9%, Truflation data suggests the effective inflation rate is closer to 2.0%. Should inflation trends continue their decline, analysts anticipate further strengthening of both gold and Bitcoin prices, making this a pivotal moment for investors in the cryptocurrency and precious metals markets.
Source: https://en.coinotag.com/breakingnews/bitcoin-remains-resilient-market-trends-amid-declining-inflation-and-rising-gold-prices/