US CPI Rises Crypto Market Holds Steady Why

The inflation data for the United States or CPI for June has been officially released, and the result is slightly above market expectations, from previously 3.3 percent now rising to 3.4 percent year-on-year. Meanwhile, the core inflation remains at 3.4 percent, indicating that price pressures are still present, although not severe.

The crypto market initially reacted with a slight decline but quickly stabilized, even ETH briefly touched 3606 USDT. Meanwhile, BTC remains around 63900 USDT. Investors believe this inflation is not strong enough to prompt The Fed to raise interest rates in the near future.

Jerome Powell, in his latest statement, remains cautious. He said The Fed needs more data before making a decision regarding interest rate policy. This decision is certainly crucial for the crypto market as high-interest rates could make investors reluctant to enter riskier assets like crypto.

Is this the right time for DCA or should we wait for a deeper correction? It's time to DYOR and prepare strategies because the altcoin season could come at any time.

#PowellVsTrump #BinanceHODLerERA #AltcoinBreakout #ETHBreakout3.5k