🔻Bitcoin Price Falling: What to Expect This Week?
Markets are cautiously awaiting upcoming economic data, which could intensify cryptocurrency volatility and set the course for the coming weeks. What does the price of bitcoin have in store this week?
Inflation data is once again the focus of this week. On Wednesday and Thursday, respectively, the latest figures for the Consumer Price Index (CPI) and the Producer Price Index (PPI) in the US will be published, as stated by the eToro crypto-asset analyst.
This is why the price of BTC shows strength above its recent lows. He added that “markets fully anticipate a cut in interest rates at the next Fed meeting on the following Wednesday.
This would be the first cut in interest rates since they rose to multi-decade highs last year.” “If inflation data turns out to be much lower than expected, it could influence the Fed's decision, moving from a possible 25 basis point cut to a more aggressive 50 basis point cut”
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