#CryptoCPIWatch The cryptocurrency market is buzzing with anticipation for the US Consumer Price Index (CPI) report, which will be released on Wednesday. Here are the key points of interest ¹:

- *CPI Expectations*: Analysts forecast a slight increase in the overall CPI to 2.5% in April from 2.4% in March. The core CPI, excluding food and energy prices, is expected to remain stable at 2.8%.

- *Impact on Federal Reserve Policy*: A weaker-than-expected CPI reading could boost confidence in the possibility of interest rate cuts, positively affecting the cryptocurrency market. Conversely, a stronger-than-expected reading could delay interest rate cuts, potentially dampening enthusiasm for cryptocurrencies.

- *Cryptocurrency Market Sentiment*: The recent surge in cryptocurrency prices, with Bitcoin nearing all-time highs and Ethereum surpassing $2,500, is partly attributed to easing economic concerns and investor optimism. A favorable CPI report could further drive this momentum.

*Current Cryptocurrency Market Overview*:

- *Market Capitalization*: The global cryptocurrency market capitalization currently stands at $3.41 trillion, with a 3.4% increase over the past 24 hours.

- *Bitcoin and Ethereum*: Bitcoin's dominance is 59.7%, while Ethereum's dominance is 8.71%. Bitcoin's price is around $102,709, and Ethereum's price is around $2,463.67.

- *Top Gainers*: The Polkadot ecosystem and the XRP Ledger ecosystem are among the best-performing cryptocurrencies.