QCP Capital experts are eagerly awaiting the CPI data to be announced on Wednesday. The fact that the PPI data announced today fell short of expectations has increased the possibility that the Fed will cut interest rates. If the data coming tomorrow contains an unusual surprise, increased volatility in both directions may be observed in the markets.

Bitcoin has yet to recover from its big loss on August 5, and investors may be happy again with the reversal of the decline in altcoins. So, what is the status of cryptocurrencies as of August 13? What do analysts predict for investors?

QCP Capital analysts, who regularly provide assessments of cryptocurrency markets, summarized the current situation as follows:

  • Japanese stock markets rebounded today, returning to previous crash levels.

  • However, investors are taking a cautious approach as they await the release of US CPI figures. They are closely monitoring inflation data for clarity on whether the Fed will cut interest rates by 50 basis points or 25 basis points in September. The odds are currently evenly split.

  • ETH spot ETFs saw cumulative inflows exceeding $901 million following yesterday’s net inflows. Grayscale reported zero outflows for the first time. This provided strong support for ETH prices and could be a catalyst for a more significant recovery.

Is the Cryptocurrency Market Decline Over?
Today's Producer Inflation data was below expectations. A similar decline is expected in tomorrow's Consumer Inflation data. This could prompt the Fed to take bolder steps in reducing interest rates. Right now, the Fed is under increased pressure due to employment data falling well below expectations.

If the inflation data to be announced tomorrow is positive, we may enter a new period of upward trend for cryptocurrencies and stocks. The Fed's approach to the 2% inflation target reveals the risks and losses of tight monetary policy.

Powell and his team should start lowering interest rates this year by taking a 75 basis point cut as a base to avoid making their job even harder. There will be a total of 3 meetings starting in September and until the end of the year, a 50 basis point cut at one of these meetings could be a major price catalyst for Bitcoin.

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