#CryptoCPIWatch

The crypto market, particularly Bitcoin, is closely watching the Consumer Price Index (CPI) report, which is expected to significantly impact market trends. Here's what's happening ¹ ²:

- *CPI Expectations*: The April CPI report is forecasted to show a year-over-year increase of 2.3%, slightly cooling from March's 2.4%. Core CPI is expected to land at 2.8%.

- *Market Impact*: A lower CPI reading could boost Bitcoin's price, potentially driving it to new all-time highs, while a higher CPI might trigger consolidation or a short-term dip.

- *Federal Reserve*: The Fed's stance on interest rates is also being closely watched, with investors expecting clarity on potential rate cuts. A rate cut could positively impact the crypto market.

*Key Factors Influencing Crypto Market:*

- *US-China Trade Relations*: Recent trade talks between the US and China have shown progress, boosting global market sentiment and potentially impacting crypto prices.

- *Inflation Trends*: Inflation's stickiness and potential rate cuts are crucial for the crypto market's direction.

- *Macroeconomic Factors*: Economic uncertainty, inflation concerns, and currency fluctuations can drive investors to safe-haven assets like Bitcoin.

*Bitcoin's Current Status:*

- *Price*: Bitcoin's price surged above $105,000, with a bullish MACD cross signaling potential upside.

- *Market Cap*: Bitcoin's market capitalization stands at $2.05 trillion.

- *Investor Sentiment*: Despite Bitcoin trading above $100,000, retail investor interest remains relatively low, with the Crypto Fear & Greed Index hovering at 70 ¹ ³.