Bitcoin could face stern macroeconomic headwinds in 2024 as inflation remains uncomfortably hot, an analyst has said.

The sticky inflation data for January from the U.S. Consumer Price Index (CPI), Producer Price Index (PPI), and a hot jobs report is causing an analyst to express concerns about bitcoin and the cryptocurrency market in the coming year. Robust job figures indicates increased demand in the economy, potentially leading to higher spending, and elevated CPI and PPI suggest rising costs for goods and services, contributing to inflationary pressures as businesses may pass those costs onto consumers.

According to Nansen Principle Research Analyst Aurelie Barthere, "we should now be looking for any sign of growth weakness as the next catalyst for …