According to TechFlow, XT reminds you to pay attention to macro data. At 20:30 on July 12, 2024, Singapore time, the U.S. Department of Labor will announce the U.S. June unadjusted CPI annual rate and the U.S. June seasonally adjusted CPI monthly rate. Among them, the U.S. June unadjusted CPI annual rate is more concerned by the market.

Release frequency: Once a month

Data meaning: The U.S. Consumer Price Index (CPI) is an indicator that measures changes in the price level of a basket of goods and services and is used to reflect inflation. CPI data directly affects the Federal Reserve's monetary policy decisions. If CPI data continues to show high inflation, the Fed may raise interest rates or reduce asset purchases, thereby reducing market liquidity, which may put pressure on riskier assets including Bitcoin. The CPI data in the United States has a significant impact on the Bitcoin market by affecting inflation expectations, the value of the US dollar, Federal Reserve policy, and market sentiment. Investors need to consider these factors comprehensively and understand the short-term and long-term impact that CPI data may have on the Bitcoin market.

Data impact: If the published value < expected value, for example: the published value of the US June unadjusted CPI annual rate is 3.0% < 3.1%, and the published value of the US June seasonally adjusted CPI monthly rate is 0.0% < expected value 0.1%. This is bearish for the US dollar and bullish for non-US currencies. It is bearish for Treasury yields. It is bullish for expectations of interest rate cuts and bearish for expectations of interest rate hikes. It is bullish for risk markets and virtual currency markets

Data source: Jinshi Data