Bitcoin Price Prediction: A Risky Run-Up To Key US CPI Data?
On the other hand, its peer, Ethereum, has remained relatively unchanged over the last 24 hours, trading at $1,852. Generally, the crypto market is still dealing with record-low volatility, with market watchers looking forward to significant market-changing events to alter the sideways course. advertisement Navigating The US CPI Data and the SEC Decision on Bitcoin ETF The Consumer Price Index (CPI) report is coming on Thursday and will show how the United States is fairing in the battle to meet the Federal Reserve inflation target. The Fed has over the past year hiked rates to as high as 5.5% – the highest in 22 years. However, in June the bank paused the rate hikes but followed with a 25-basis point hike in July, a move that did not sit well with investors. The CPI on Thursday is of particular importance, especially with the market looking forward to a 0.4% bump in inflation. The Fed has in the last few months said that the economy is in a...