📊 #CryptoCPIWatch: The Cryptocurrency Market Awaits Tension Around the US CPI Report
The Consumer Price Index (CPI) report for April in the US is expected to be released today at 16:30 Baku time, and this could lead to significant fluctuations in the cryptocurrency markets.
🔻 Tension in Bitcoin and Altcoins
Bitcoin (BTC) has decreased by 1.2% over the last 24 hours, dropping to $103,265. If the CPI figure comes in higher than expected, it is possible for the BTC price to fall below $100,000. Conversely, if inflation figures are lower, this could lead to a rally in the market.
📈 Why is CPI Important?
CPI is a key indicator of inflation and affects decisions made by the US Federal Reserve regarding interest rates. Lower inflation increases interest in riskier assets, including cryptocurrencies, while higher inflation can amplify selling pressure in the market.
📊 Analytical Forecasts
Analysts predict that the CPI will be at the level of 2.2%. If this figure is confirmed, an increase in the prices of Bitcoin and other cryptocurrencies may be observed. However, if CPI is 3.2% or higher, a wave of selling could occur in the market.
📌 Conclusion
Today is critical for the cryptocurrency market. Investors should be cautious and manage their risks. For the latest updates, follow the posts on the Binance Square platform with the hashtag #CryptoCPIWatch .
📉 BTC: 103,265 USD (-1.2%)
📉 ETH: 2,507 USD (-1.91%)
📉 BNB: 649.61 USD (-3.22%)
