đš Inflation Data Incoming â Hereâs How Crypto Could React Today! đš
The **consumer price index (CPI)** is dropping this Wednesday, just ahead of the Federal Reserve's next meeting. This crucial data will shape the Fed's rate cut decisions, and the **crypto market** is already bracing for impact. đ„
Hereâs what to watch for:
đ Consumer prices expected to rise by **0.2%** from July.
đ Year-over-year CPI forecast to drop to **2.6%**, while core CPI should hold at **3.2%**.
**My Outlook:**
The market is anticipating a **25bps rate cut** in September, which is already priced in. So, if the CPI comes in as expected, we might actually see **crypto prices dip** in the short term. đ
But if the CPI comes in **higher than expected**, hopes for a **50bps rate cut** could riseâand that could **send crypto prices soaring**. đ
Stay sharp, the next few hours could be a wild ride! đą