![\"bitcoin\"](\"https:\/\/v2.cimg.co\/news\/101703\/251157\/bitcoin-take-off.jpg\")
<\/figure>\nBitcoin and wider crypto prices<\/a> are getting a strong tailwind today after the release of the latest US economic data shows softening inflation and slowing retail sales.<\/p>\n Bitcoin at the time of writing is priced at $21,565, up 0.9% and Ethereum<\/a> is currently 0.85% higher at $1,602.<\/p>\n The closely watched US retail sales figure fell -1.1%, greater than the -0.8% forecast by economists.<\/p>\n Meanwhile, producer price index (PPI) inflation fell to 6.2% as against the headline figure of 6.8% that was expected.<\/p>\n The latest economic data should strengthen the hand of doves at the Federal Reserve to slow down on interest rate rises.<\/p>\n The poor retail sales data suggests that consumers are feeling the pinch of higher prices and are cutting back.\u00a0<\/p>\n That would have the effect of taking some of the demand out of the economy that was threatening to send inflation spiralling even higher.<\/p>\n Put that another way \u2013 it means rising interest rates are already doing the trick in taming inflation\u00a0<\/p>\n And the PPI reading feeds into earlier inflation<\/a> data that points to slowing inflation, which in turn will negate the need for the Fed to move more aggressively \u00a0on interest rates.\u00a0<\/p>\n On the contrary, it should help to confirm the rationale for the shift in sentiment that has seen a pick up in risk assets such as stocks and crypto.<\/p>\n Bitcoin is now trading comfortably above its 200-day simple moving average and the MACD moving above the signal line. The volume profile shows strong volume at the present price point.<\/p>\n The key target that may confirm that the bear market is over is a successful attack on the $30,000 price, a key area of resistance, last visited in June 2022.<\/p>\n It could be a great time to start accumulating bitcoin and top altcoins such as Ethereum. Solana and Avalanche.<\/p>\n But even bigger returns than from investing in bitcoin<\/a> might be up for grabs further down the food chain in the presale market.<\/p>\n Crypto gaming<\/a> will likely be one of the sectors that leads the space out of the crypto winter and Meta Masters Guild is worth a look on that score. The project has raised more than $500k from eager investors in a week.<\/p>\n It is focused on becoming the go-to platform for indie game developers in the play-to-earn space and has a game called Meta Kart at an advanced stage of development.<\/p>\n Visit Meta Masters Guild Now<\/a><\/p>\n Another presale coin worth taking a look at is Fight Out. It has so far raised an impressive $3 million it its presale.<\/p>\n This project is taking the move to earn craze to the metaverse<\/a> by combining a companion app with the building out of a community hub network of gyms \u2013 all under the banner of the booming combat sports theme.<\/p>\nData means the Fed is more likely to ease up on interest rates<\/h2>\n
Bitcoin’s next stop could be $30k to confirm end of bear market<\/h2>\n
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<\/figure>\nCheck out the presale market for 10x returns \u2013 MEMAG and FGHT<\/h3>\n