$BTC This Wednesday will be crucial for financial markets. The U.S. will release September's CPI at 12:30 UTC, followed by the Fed's Beige Book at 18:00 UTC.
Annual inflation is estimated at 3.7%, up from 3.4% previously. If the figure exceeds expectations, fears could grow that the Fed will keep rates elevated or consider further hikes, putting downward pressure on Bitcoin and altcoins.
Conversely, lower-than-expected inflation could fuel a rebound, weaken the dollar, and improve risk appetite.
My outlook: caution with a bearish bias. I wouldn't rule out a bull trap before a drop, especially if the market initially reacts with optimism and then reconsiders the Fed's outlook.
ETF flows, the dollar, and market liquidations will also be worth watching. BTC's reaction to the data will matter more than the headline alone.
Nothing is certain: a favorable surprise could invalidate the bearish outlook. The key will be to compare actual CPI with expectations and see whether Bitcoin confirms the move with volume.
Annual inflation is estimated at 3.7%, up from 3.4% previously. If the figure exceeds expectations, fears could grow that the Fed will keep rates elevated or consider further hikes, putting downward pressure on Bitcoin and altcoins.
Conversely, lower-than-expected inflation could fuel a rebound, weaken the dollar, and improve risk appetite.
My outlook: caution with a bearish bias. I wouldn't rule out a bull trap before a drop, especially if the market initially reacts with optimism and then reconsiders the Fed's outlook.
ETF flows, the dollar, and market liquidations will also be worth watching. BTC's reaction to the data will matter more than the headline alone.
Nothing is certain: a favorable surprise could invalidate the bearish outlook. The key will be to compare actual CPI with expectations and see whether Bitcoin confirms the move with volume.