Tonight is the one number every trader is waiting for and nobody can agree on what it means.
October CPI drops at 8:30am ET. Consensus is 0.3% headline and 0.2% core, cooler than September's hot 0.6%, but there is no year-over-year number this time because last October's data was never collected. It is also the last CPI print before the Fed meets December 8-9, and futures are pricing around a 75-80% chance of another hike after September's move to 3.75-4.00%.
Bitcoin is sitting around $74,500 after a $74,743 weekly close, Fear and Greed at 28, and the whole market is basically holding its breath for one decimal point. A soft core number could take some pressure off risk. A hot one and December gets a lot more uncomfortable.
Are you watching the print live tonight or just checking the damage in the morning?
#CPITestsDecemberRateOutlook $BTC
October CPI drops at 8:30am ET. Consensus is 0.3% headline and 0.2% core, cooler than September's hot 0.6%, but there is no year-over-year number this time because last October's data was never collected. It is also the last CPI print before the Fed meets December 8-9, and futures are pricing around a 75-80% chance of another hike after September's move to 3.75-4.00%.
Bitcoin is sitting around $74,500 after a $74,743 weekly close, Fear and Greed at 28, and the whole market is basically holding its breath for one decimal point. A soft core number could take some pressure off risk. A hot one and December gets a lot more uncomfortable.
Are you watching the print live tonight or just checking the damage in the morning?
#CPITestsDecemberRateOutlook $BTC
