#CryptoCPIWatch

#CryptoCPIWatch refers to the anticipation in the cryptocurrency market for the U.S. Consumer Price Index (CPI) data, which significantly impacts the prices of currencies like Bitcoin and Ethereum.

Bitcoin has dropped to around $103,500, and Ethereum to $2,480, due to caution and profit-taking ahead of the data release.

April's data is expected to show a decrease in inflation from 2.8% to 2.4%, which could support the market if the forecast is accurate.

CPI data influences the Federal Reserve's decisions regarding interest rates, and thus affects the crypto market.

Investors are awaiting the data release today at 08:30 AM New York time.