#CryptoCPIWatch
Tag #CryptoCPIWatch follows the impact of U.S. inflation data (CPI) on the cryptocurrency market.
Report Summary:
Annual inflation in America: 2.4% (in line with expectations).
Core inflation: 3.2% (slight decrease).
This supports the likelihood of a rate cut from the Federal Reserve later.
Impact on cryptocurrencies:
Bitcoin has dropped to $102,540.
Ethereum has dropped to $2,450.
The market is cautious despite the data being in line with expectations.
Technical indicators:
Bitcoin shows potential for a technical rise but faces resistance at $106,000.
Ethereum is in a consolidation phase.
Upcoming factors:
Interest rate decisions from the U.S. central bank.
Global trade relations, especially between the U.S. and China.
