Wall Street giants predict that cooling US CPI and core CPI will drive the market rebound, and rising Bitcoin prices will lead the broader crypto market recovery.
Key Points
- Wall Street giants including JPMorgan Chase hinted that CPI inflation data cooled, similar to economists' forecasts. CPI is expected to be 3.4%, but the monthly CPI data slowed down. Analysts predict that Bitcoin prices will rise after CPI and FOMC.
- The US Bureau of Labor Statistics will release CPI inflation data for May before the Federal Reserve's interest rate decision on June 12. Wall Street giants and economists predict that the annual CPI inflation will be 3.4%, and the monthly rate will slow to 0.1% from 0.3% last month.
- Annual core CPI is expected to fall to 3.5% from 3.6% last month, and monthly core inflation will remain at 0.3%. These data indicate that market sentiment is generally positive.
- Banks predict that the Fed will start cutting interest rates in September, and cooling CPI and PCE inflation will confirm September as the Fed's official turning point. The US dollar index fell before the CPI and Fed interest rate decisions.
- Bitcoin prices move inversely to US Treasury yields, with traders eyeing further declines in yields as monetary policy tightening slows. Bitcoin prices should reverse after FOMC and CPI events.
- Bitcoin futures and options data show early signs of market recovery, with options traders expecting Bitcoin to reach 75K or even 80K by the end of June.
- Bitcoin ETF volume hits four-week high despite macroeconomic events, but GBTC outflows increase. Bitcoin prices fell 0.57% in the past 24 hours, with support at 66K.
Key Points
- Wall Street giants including JPMorgan Chase hinted that CPI inflation data cooled, similar to economists' forecasts. CPI is expected to be 3.4%, but the monthly CPI data slowed down. Analysts predict that Bitcoin prices will rise after CPI and FOMC.
- The US Bureau of Labor Statistics will release CPI inflation data for May before the Federal Reserve's interest rate decision on June 12. Wall Street giants and economists predict that the annual CPI inflation will be 3.4%, and the monthly rate will slow to 0.1% from 0.3% last month.
- Annual core CPI is expected to fall to 3.5% from 3.6% last month, and monthly core inflation will remain at 0.3%. These data indicate that market sentiment is generally positive.
- Banks predict that the Fed will start cutting interest rates in September, and cooling CPI and PCE inflation will confirm September as the Fed's official turning point. The US dollar index fell before the CPI and Fed interest rate decisions.
- Bitcoin prices move inversely to US Treasury yields, with traders eyeing further declines in yields as monetary policy tightening slows. Bitcoin prices should reverse after FOMC and CPI events.
- Bitcoin futures and options data show early signs of market recovery, with options traders expecting Bitcoin to reach 75K or even 80K by the end of June.
- Bitcoin ETF volume hits four-week high despite macroeconomic events, but GBTC outflows increase. Bitcoin prices fell 0.57% in the past 24 hours, with support at 66K.