Mixed Signal Expected Ahead of CPI
Bitcoin price braces for the US inflation data as the surging heat around the CPI rates have halted the rally but increased the volatility. The markets surged nominally ahead of the announcement which resembles a similar movement ahead of the revelation of the previous inflation rate.
However, the crypto markets could have mixed reactions as a popular analyst, Daan Crypto Trades, pens down the probable CPI rates.
CPI Guide for today in my opinion: CPI YoY: <8.7 Bullish 8.7-9.1 Neutral probably slightly bearish 9.1> Bearish Core CPI YoY <5.9 Bullish 5.9-6.1 Neutral 6.1> Bearish More thoughts below