#CryptoCPIWatch The crypto market is bracing for the US Consumer Price Index (CPI) data release, which could significantly impact market sentiment and volatility. Here's what you need to know¹ ² ³:
- *CPI Data Expectations*: The CPI is forecasted to rise at an annual rate of 2.4% in April, unchanged from March. The core CPI inflation, excluding food and energy, is expected to stay at 2.8% year-over-year.
- *Market Impact*: A softer-than-expected CPI reading could boost investor confidence and lead to rallies in cryptos, while a surprise uptick could affirm bets that the Fed will hold policy steady, triggering risk-off sentiment.
- *Bitcoin's Current State*: Bitcoin recently touched $105,700 before retreating by 3% to $102,662.30, indicating potential profit-taking near the $106,000 resistance level.
- *Institutional Demand*: Despite the dip, institutional demand remains strong, with corporations acquiring over 157,000 BTC in 2025, and ETFs seeing $934 million in net inflows over the past month.
*Key Market Movers:*
- *Bitcoin*: $102,662.30, down 1.19%
- *Ethereum*: $2,453.30, down 1.90%
- *Ripple (XRP)*: Up 4%, leading altcoin gains
- *Cardano (ADA)*: Down 3%
- *Solana (SOL)*: Down 2.8%
- *Binance Coin (BNB)*: Down 1%
*What's Next?*
The crypto market is watching the CPI data release closely, as it could introduce further volatility. With over $730 million in leveraged positions wiped out in the past 24 hours, traders are cautioning against overleveraging.
