Bitcoin Drops 3% Ahead of Interest Rate Decision and US Inflation Report - Decrypt
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The U.S. Consumer Price Index (CPI) report will be released tomorrow, with analysts expecting the headline CPI to be at 3.4%, while core CPI is estimated to be at 3.5%.
The Federal Reserve is thus not likely to cut rates, as the CPI data would still be far greater than the FOMC’s expected target of
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Summary
- 📉 Bitcoin's price drops by 3% ahead of important economic events
- 📊 US Consumer Price Index (CPI) report to be released tomorrow
- 📈 Analysts expect headline CPI to be at 3.4% and core CPI at 3.5%
- 🏦 Federal Reserve unlikely to cut rates due to high CPI data
- 💰 Bitcoin reacts to potential impact of interest rate decision and inflation report
Top Highlights
- The U.S. Consumer Price Index (CPI) report will be released tomorrow, with analysts expecting the headline CPI to be at 3.4%, while core CPI is estimated to be at 3.5%. The Federal Reserve is thus not likely to cut rates, as the CPI data would still be far greater than the FOMC’s expected target of 2% over the long run.
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