The headline, Core CPI results came in lower than expected, causing the US 10-year Treasury yield and the dollar index to plunge as inflation fears eased.
This is driving up the price of stocks, coins, and gold, and it's likely to be a weak dollar situation because we're more likely to have a low interest rate situation rather than a high interest rate situation going forward.
However, it is important to keep an eye on the changes in the Total Supply of Stablecoins, as liquidity will be a key factor in determining whether the coin market rallies.
While it's possible that we could see a price bounce in the near term due to the release of economic data, we'd need to see a dramatic increase in the total supply of stablecoins to see a rally above the $73k high.
Written by MAC_D