#CryptoCPIWatch Today's crypto market is heavily influenced by the upcoming Consumer Price Index (CPI) report. Here's what's happening:

*CPI Report Expectations*

- The April CPI report is set to release today, with forecasts suggesting a year-over-year increase of 2.3%, slightly cooling from March's 2.4%.

- Core CPI is expected to land at 2.8%.

- A lower CPI reading could boost Bitcoin's price, potentially driving it to new all-time highs, while a higher reading might trigger consolidation or a short-term dip.¹

*Market Reaction*

- Bitcoin's price surged above $105,000, reaching levels near its all-time high, with a bullish MACD cross signaling potential upside.

- Ethereum's price also rose, breaking out of a holding pattern and reaching $2,500.

- The overall crypto market cap surpassed $3.2 trillion, driven by decreased economic concerns and investor optimism.

*Key Catalysts*

- *US-China Trade Talks*: Positive sentiments surrounding trade talks have contributed to the market surge, with expectations of a favorable outcome potentially capping inflation pressure and opening room for the Federal Reserve to loosen policy.

- *Federal Reserve Policy*: The Fed's decision on interest rates will be influenced by the CPI report, with a weaker-than-expected read potentially leading to rate reductions and a boost for cryptocurrencies.²

*Current Prices*

- Bitcoin: $103,470.10 (0.26% increase in 1 hour, 1.2% increase in 24 hours)

- Ethereum: $2,477.58 (0.05% increase in 1 hour, 3.2% increase in 24 hours)³#CryptoCPIWatch