#BTCUSDT. $BTC This week's key events on Wednesday include the CPI data being reported at 9 AM ET, and the FOMC policy statement followed by Jerome Powell's press conference at 2 PM ET and 2:30 PM ET, respectively.

The impact of CPI data and FOMC policy statements on Bitcoin can vary, but here are some general trends:

CPI Data (Inflation Data):

High Inflation: If the CPI data indicates higher-than-expected inflation, Bitcoin could see a price increase. Investors often view Bitcoin as a hedge against inflation, similar to gold.

Low Inflation: If the CPI data shows lower-than-expected inflation, it could lead to a decrease in Bitcoin's price as the urgency for an inflation hedge diminishes.

FOMC Policy Statement and Jerome Powell’s Press Conference:

Hawkish Tone (Interest Rate Hikes): If the FOMC signals a hawkish stance, indicating higher interest rates or a reduction in monetary stimulus, Bitcoin might experience downward pressure. Higher interest rates can lead to a stronger dollar and reduced appeal for riskier assets like Bitcoin.

Dovish Tone (Continued Easing): If the FOMC suggests a dovish stance, indicating lower interest rates or continued monetary easing, Bitcoin could benefit as investors seek assets with higher potential returns amid a low-interest environment.

Overall, the effect of these events on Bitcoin will depend on how the data and statements align with market expectations and broader economic conditions. Investors will be closely monitoring these announcements to adjust their positions accordingly.