Today, September 11, 2024, fresh inflation data was released in the United States. The figures for August 2024 showed a decline in annual inflation to 2.5%, the lowest level in three years. This is a positive sign for the economy, as inflation has returned to levels close to pre-crisis times.
The fall in inflation is due to a slowdown in the growth of housing, transport and food prices. At the same time, energy costs remain stable, creating little uncertainty for the market.
Impact on cryptocurrencies
Falling inflation could support cryptocurrencies like Bitcoin and Ethereum as the US Federal Reserve becomes more likely to ease economic policy. In such a situation, investors may become interested in high-yielding assets, potentially leading to higher prices for cryptocurrencies.
Opportunities for traders
Amid positive inflation data, crypto assets could see short-term gains. Bitcoin, Ethereum, and younger tokens like Solana and Polygon could be in the spotlight for investors looking to capitalize on policy changes.
The next few days will be pivotal for the crypto market, especially ahead of the Fed meeting on September 18th, where interest rates will be discussed. Subscribe to updates and leave your comments to stay up to date with all the changes!
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