Consumer Price Index (CPI) data due out starting tomorrow are expected to support the argument that inflation is waning, providing a potential window of opportunity for risk assets, though many are calling for caution as signs of underlying price support remain lacking.
The real breakthrough or plunge will occur when the CPI data is released on Thursday. Since BTC is at a higher time frame resistance of $17,550, we have mentioned this many times before about CPI. This can directly affect the existence of the terminal interest rate, which we must pay attention to.
As the rebound began, ETH, the king of altcoins, performed better than BTC. Since December 20, ETH has also risen by 17%. Here, when traders are desperate for BTC, we will start trading altcoins. I just checked that the dominance of altcoin trading volume today has exceeded 50% again.
It is important to note here that when altcoins continue to dominate, there is a potential risk of further downside in the market.
