Will CPI and PPI be the key to determine the rise and fall of the BTC market?
The CPI released at 8:30 tonight deserves the attention of every investor!
If the Consumer Price Index (CPI), Producer Price Index (PPI) and Federal Funds Rate remain at low levels, we are expected to witness a thriving market. In this case, the value of Bitcoin (BTC) may be pushed up, even breaking through the $70,000 mark. Low interest rate environment and stable price levels are generally seen as a hotbed for economic growth, which will also stimulate investors' enthusiasm for high-risk assets such as cryptocurrencies.
However, if CPI, PPI and Federal Funds Rate rise, the market may usher in a cold snap. In this case, the price of Bitcoin may fall back to around $62,000. Higher inflation rates and interest rates tend to make investors cautious about future economic prospects, thereby reducing investment in risky assets.
The statement of the Federal Open Market Committee (FOMC) will be announced in the next few hours, and this statement will undoubtedly become an important indicator of market trends.
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