Inflation data is coming again on Wednesday. Will there be another big drop this time?
The biggest hot spot in the cryptocurrency circle this week is the CPI inflation data at 8:30 p.m. on Wednesday.
Investors nowadays have long lost their way. The rise and fall are more based on Wall Street data. For example, last week's unemployment data was positive, and Bitcoin rose directly from 57,000 to 63,000. Last week's employment data was negative, and Bitcoin fell from 63,000 to 57,000 and then to 49,000. Therefore, every data is extremely critical.
The previous value of this CPI was 3%, and the market expectation was also 3%. The previous value of the core CPI was 3.3%, and the market expectation was 3.2%. The market expectations of these two data are not much different from the previous values. This is the easiest to be upset, because a slight change can cause an uproar, especially it will directly affect whether the Federal Reserve will cut interest rates once or twice in September.
I personally think that the probability of good news is very high, because I can't see any reason why the CPI can continue to rise.
