Impact of US CPI Data on Bitcoin and Crypto
Date of Release: 6 PM IST Today
The much-anticipated US Consumer Price Index (CPI) data is set to be released today at 6 PM IST. This report is crucial for understanding the current inflation trends and will be closely monitored by the Federal Reserve.
Expected Data:
Core CPI: Forecasted to rise by 0.30% in April, potentially lowering the 12-month rate to 3.6% from 3.8% in March.
Headline CPI: Projected to climb by 0.37% in April, which could decrease the 12-month rate to 3.4% from 3.5% in March.
Anticipated Market Impact
The release of this data is expected to cause high volatility in the #Bitcoin and #cryptocurrency markets. Traders and investors should be cautious and avoid overleveraging or entering positions without a well-thought-out plan. The CPI data significantly influences the Federal Reserve's policy decisions, which in turn affect market movements.
Predictions and Insights
Previous #CPI Data: 3.5% Y/Y
Current Estimate: 3.4% Y/Y
As the market braces for this critical data release, it's essential to stay informed and prepared. Ensure you have a strategy in place and be mindful of the potential market turbulence.
Stay tuned for the latest updates and share this information to help others stay informed.
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