CPI will be announced tonight, and today we will pay special attention to three major events
On-chain data shows that stablecoins have been flowing out of exchanges in the past two days, and BTC has been flowing into exchanges
Today we will focus on three major events
1. At 8:30, CPI data will be announced. Given that the non-agricultural data this time has greatly exceeded expectations, this CPI is likely to be bearish
2. At 2:00 a.m., the Federal Reserve will announce the interest rate decision and economic forecast summary (FOMC meeting)
3. Around 2:30 a.m. tomorrow night, Federal Reserve Chairman Powell will deliver a speech. If it is tough data, it will force Powell to be tough and there is a possibility of hawkish speech.
The June FOMC meeting will be one of the most critical meetings this year, because Powell will give the clearest hint so far on the timetable for interest rate cuts. If the CPI data is positive, there is a probability that it will fluctuate upward
So it depends on CPI to determine whether BTC will fall again.
My personal opinion is that this CPI is bearish with a 70% probability of exceeding expectations
CPI is bullish with a 30% probability of being lower than expected
