Inflation data from the United States, the world’s main financial power, usually impact the operations of various markets. For this reason, high volatility is expected in assets, including bitcoin (BTC), with the consumer price index (CPI) to be published today.
The report will be released at 12:30 PM (UTC). The expectations, according to the specialized portal Investing, They aim for the annual CPI in the United States to fall from 2.5% to 2.3%.
If the result is equal to or lower than expected, the market is likely to respond optimistically, since it implies greater liquidity. A higher level, however, could trigger concerns among investors.
The price of bitcoin has been falling slightly in the week leading up to the report, going from 64,000 to 60,000 dollars (USD). In this way, the market has been more cautious as the CPI result approaches, which could influence the future direction.
The objective of the Federal Reserve (Fed), Central Bank of the United States, is for annual inflation to be reduced to 2%. Therefore, an approach to it can be a boost for the economy. Below you can see the annual CPI recorded in recent months and its forecast.
Meanwhile, as CriptoNoticias anticipated, analysts predict that the continuation of the cycle of interest cuts that began last month in the United States will motivate the markets. This also applies to bitcoin, despite the fact that it has remained in a slightly bearish consolidation range for seven months after having set a new price record.