What’s the Buzz About #CPIWatch ?
The CPI report, a key measure of inflation, dropped today, showing a year-over-year (YoY) CPI of 2.7%, slightly below the expected 2.8%. Core CPI, which excludes volatile food and energy prices, came in at 3.1%, just above the anticipated 3.0%. These figures are critical because they influence the Federal Reserve’s interest rate decisions, which ripple through global financial markets, including crypto.Posts on X reflect the market’s reaction: stocks and crypto rallied hard, with Ethereum ($ETH ) surging past $4,600 and Bitcoin ($BTC ) holding strong near $118,000. The slightly softer-than-expected CPI has fueled hopes for a Federal Reserve rate cut, boosting risk-on assets like cryptocurrencies. However, sticky core inflation at 3.1% signals caution, as the Fed might maintain tighter policy to curb persistent price pressures.
#ETH5kNext? #CPIWatch #BTCOvertakesAmazon
