Bitcoin Investors Are Watching Key US Inflation Data and Fed Announcements This Week.
Cryptocurrencies have fluctuated significantly in the past week.
The markets, which were initially stimulated by analysts' predictions that Bitcoin would reach new peaks, were later shaken by the impact of strong US employment data.
Investors are now focused on the major events that will take place this week.
Announcement of Expected US CPI and PPI Data
Participants in the cryptocurrency markets are closely monitoring the US Consumer Price Index (CPI) May data, which will be announced on June 12. In addition, core CPI figures will also provide clear information about inflation. Producer Price Index (PPI) and core PPI data will be announced on June 13, and these data are critical to evaluate inflation trends in the USA.
Possible Impact on Fed Policies
These indicators will play a major role in the Federal Reserve's future interest rate decisions. Last week's weak employment data caused anxiety in the markets, so this week's inflation data is very important for both crypto and other financial markets. Investors are trying to understand how the Fed will respond to inflation pressures.
Federal Reserve's FOMC Meeting and Chairman Powell's Statements
Following the inflation data to be announced on June 12, everyone's eyes will be on the Federal Open Market Committee's (FOMC) interest rate decision and Federal Reserve Chairman Jerome Powell's press conference. Although the market generally expects interest rates to remain constant, Powell's comments may provide important clues about the Fed's future policy moves. Previously, crypto markets were expecting at least two rate cuts this year, with November being a strong candidate, but recent employment data has added uncertainty to these expectations.