✨ $BTC $100K PRICE PULL BACK AGAIN SEE ON CHART.

Why Bitcoin Price Pull Back? There is a Breaking: US CPI Comes In At 2.7% Signaling BTC & Altcoins Rally Ahead

The investors eagerly awaited the US CPI data for cues on the economic health of the nation. Notably, the latest data showed that the inflation inched up to 2.7% in November, up from 2.6% noted in the prior month. However, this increased figure came in line with the market expectations, fueling hopes over another Fed rate cut at the central banks’ next week FOMC gathering. Besides, it also sparked optimism over a potential rally in Bitcoin (BTC) and altcoin prices ahead.

On the other hand, the Core Consumer Price Index for November, which excludes food and energy prices, comes in at 3.3%. The figure remained unchanged from the October figure and was also in line with the market expectations. On a monthly basis, the Core CPI figure also remains unchanged at 0.3%.

However, the market will keep close track of the upcoming US PPI inflation figures now, scheduled for tomorrow. These data would be crucial in setting the path for the US Federal Reserve's future decision for their rate cut plans. Notably, the CME FedWatch Tool showed that there is a 97% chance of another 25 basis point cut at the next week's FOMC.

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