#CryptoCPIWatch Crypto Markets on Edge Ahead of Key U.S. CPI Data

Cryptocurrency markets are showing caution as investors await the latest U.S. Consumer Price Index (CPI) report. Bitcoin has dipped 2% to $101,727, while Ethereum is down 3.5% at $2,428. The CPI is expected to show a year-over-year inflation rate of 2.4%, matching last month’s data. A lower reading could fuel hopes of Federal Reserve rate cuts, potentially pushing Bitcoin past the $106,000 mark. However, a higher inflation figure may trigger further sell-offs. Traders are watching closely, as the CPI release could significantly impact short-term crypto price action.