To major fluctuations in prices. Traders and investors expect the Consumer Price Index to provide insight into inflation, which could affect the Federal Reserve's decisions on interest rates. A higher than expected Consumer Price Index reading could lead to a sell-off in risky assets like cryptocurrencies. Conversely, a lower than expected reading could lead to rising prices. Market participants are watching to see if inflation is slowing down, which could ease pressure on the Federal Reserve to tighten monetary policy aggressively. Therefore, #CryptoCPIWatch remains a crucial event for observers to understand the potential trend of cryptocurrency markets in the near term.