Crypto Markets Are Quiet: All Eyes on Latest US Inflation Data
In recent days, the crypto market has experienced a marked slowdown. Price volatility, which has always been a hallmark of the crypto market, now appears lower than usual. All investors' eyes are currently focused on the latest inflation data from the United States (US) which is scheduled to be released on Wednesday, September 13.
Crypton trader Fyqieh Fachrur, explained that crypto market players are monitoring signs that might indicate whether the US economy will experience a "soft landing," where the Fed is able to reduce the inflation rate without hampering economic growth. Consumer Price Index (CPI) or inflation data, if the numbers are too high, can raise concerns that the Fed will keep interest rates higher for a longer time or increase interest rates in the coming months.
"This can reduce investors' interest in the crypto market and prefer safer assets. Apart from inflation, investors will also monitor other data that will be released this week, such as the producer price index and retail sales," said Fyqieh.
The Fed is expected to maintain its benchmark interest rate at a stable level at its meeting to be held on September 20. To date, investors still maintain their confidence in the market, despite recent crypto market fluctuations. However, some investors are also starting to be more careful and prepare themselves for possible changes in the future.
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