#CryptoCPIWatch

Crypto Market Braces for U.S. CPI Release

Bitcoin dipped below $102,400 today as traders booked profits ahead of the U.S. Consumer Price Index (CPI) release, a key inflation indicator. The broader crypto market mirrored this cautious sentiment, with major altcoins declining up to 7% . 

Analysts anticipate a year-over-year CPI of 2.9%, down from 3.0% in January . A lower-than-expected CPI could bolster expectations for Federal Reserve rate cuts, potentially igniting a crypto rally. Conversely, a higher CPI may prompt the Fed to maintain a restrictive stance, pressuring crypto prices . 

Investors are closely monitoring the CPI data, as it could significantly influence market dynamics and Federal Reserve policy decisions.