Today, May 15, 2024, is a key day for crypto traders as the U.S. Bureau of Labor Statistics (BLS) releases the Consumer Price Index (CPI) report for April at 8:30 AM ET

Why is CPI Important for Crypto?

The CPI measures inflation, and the Federal Reserve uses this data to decide on interest rate policies. Since crypto (especially Bitcoin) is sensitive to macroeconomic trends, a higher-than-expected CPI could:

Strengthen the dollar (DXY↑) → Risk assets (BTC, ETH) may dip.

-Delay Fed rate cuts → Bearish for crypto.

A lower-than-expected CPI could:

-Weaken the dollar (DXY↓) → Boost risk assets (BTC, ETH likely rally).

-Increase odds of rate cuts → Bullish for crypto.

Market Expectations (April CPI)

Headline CPI (MoM): 0.4% (prev. 0.4%)

Core CPI (MoM): 0.3% (prev. 0.4%)

Headline CPI (YoY): 3.4% (prev. 3.5%)

Core CPI (YoY): 3.6% (prev. 3.8%)

Possible Crypto Reactions

CPI hotter than expected (e.g., Core CPI ≥ 0.4% MoM)→ Bitcoin could droptoward $60K or lower.

CPI in line or cooler → BTC may rally back to $63K–$65K .

- Much lower CPI (e.g., Core CPI ≤ 0.2%) → Big rally, possible retest of **$67K–$70K.

What to Watch Next?

Fed speakers' reactions (Waller, Jefferson, etc.)

U.S. PPI data (tomorrow, May 16)

Bitcoin ETF flows(big inflows could support price)

Current BTC Price (Pre-CPI): ~$62,000

Expect high volatilityafter 8:30 AM ET.

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