Cryptocurrency market participants are eagerly awaiting the release of US Consumer Price Index (CPI) and Producer Price Index (PPI) data these days, which could have significant impacts on Bitcoin and altcoins.
In recent days, financial markets have been affected by macroeconomic data, and new economic statistics such as US employment data and comments from Federal Reserve officials have raised concerns among investors.
These factors have caused investors to especially wait for the release of the US CPI and PPI data, which are due later this week and are likely to influence market trends.
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US employment data for December showed that 256,000 new jobs were created, which was more than the market forecast (160,000 jobs). Also, the unemployment rate has decreased from 4.2% to 4.1%.
These data have raised concerns about the possibility of more restrictive policies by the Federal Reserve. It appears that the Fed may continue with its current monetary policy and the market will have to wait until June for interest rate cuts.
The US CPI index, which is one of the most important indicators for the market, is scheduled to be released on January 15. According to forecasts, the monthly CPI index will reach 0.3% and the annual CPI will reach 2.9%.
On the other hand, core CPI, which excludes food and energy prices from calculations, is expected to fall to 0.2 percent, down from 0.3 percent last month.
This data can affect investor sentiment as well as the performance of Bitcoin and altcoins.
Also, the US PPI data that will be released on Tuesday, January 14 could have a significant impact on the market. If this data is more than expected, the Federal Reserve may continue to raise interest rates.
In such a situation, investors should watch out for market fluctuations and make their decisions with careful analysis.
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