CPI Night: the biggest potential turning point—are we about to rally and strike back? Come take a look!
Tonight’s U.S. July CPI inflation data is the only major macro release this week that could break the current range-bound trading for Bitcoin and Ethereum.
At the moment, the entire crypto market is in a wait-and-see mode—trading on shrinking volume, reluctant to make a move. Everyone is waiting for CPI to set the direction.
In one sentence: will CPI trigger a breakout upward tonight, or will it lead to a deep pullback and shakeout?
First, let’s quickly review last week’s Non-Farm Payrolls data. The forecast was 8, the actual came in at -2.3—far below expectations. It should have been bullish for the crypto market, but the market priced in the move early.
On the other hand, tonight’s CPI: prior value 3.5%, forecast 3.4%. Taking a bold guess, CPI is very likely to be around 3.2% tonight.
Crypto is a high-risk asset and is extremely sensitive to inflation and market expectations for Federal Reserve interest rates.
If CPI comes in below expectations, inflation will cool, rate-cut expectations will rise, the U.S. dollar will weaken, and capital will flow back into risk assets—driving a rebound in coin prices!
Right now, the resistance levels are 645/653. Tonight’s price action will most likely test the 645 zone first, reviving the liquidity that has been weighing on Bitcoin’s recent weakness.
At present, sentiment in the crypto market is leaning bullish. But with limited capital inflows, the price action has been suppressed for too long—bearish news means a washout, bullish news means a breakout. Let’s wait and see!
$BTC #美国7月CPI与PPI数据本周出炉 #参议院推迟CLARITY法案投票至9月
Tonight’s U.S. July CPI inflation data is the only major macro release this week that could break the current range-bound trading for Bitcoin and Ethereum.
At the moment, the entire crypto market is in a wait-and-see mode—trading on shrinking volume, reluctant to make a move. Everyone is waiting for CPI to set the direction.
In one sentence: will CPI trigger a breakout upward tonight, or will it lead to a deep pullback and shakeout?
First, let’s quickly review last week’s Non-Farm Payrolls data. The forecast was 8, the actual came in at -2.3—far below expectations. It should have been bullish for the crypto market, but the market priced in the move early.
On the other hand, tonight’s CPI: prior value 3.5%, forecast 3.4%. Taking a bold guess, CPI is very likely to be around 3.2% tonight.
Crypto is a high-risk asset and is extremely sensitive to inflation and market expectations for Federal Reserve interest rates.
If CPI comes in below expectations, inflation will cool, rate-cut expectations will rise, the U.S. dollar will weaken, and capital will flow back into risk assets—driving a rebound in coin prices!
Right now, the resistance levels are 645/653. Tonight’s price action will most likely test the 645 zone first, reviving the liquidity that has been weighing on Bitcoin’s recent weakness.
At present, sentiment in the crypto market is leaning bullish. But with limited capital inflows, the price action has been suppressed for too long—bearish news means a washout, bullish news means a breakout. Let’s wait and see!
$BTC #美国7月CPI与PPI数据本周出炉 #参议院推迟CLARITY法案投票至9月