Home Markets No High Inflation Warning From US Ahead Of CPI Print As Crypto Markets Turn Volatile

No High Inflation Warning From US Ahead Of CPI Print As Crypto Markets Turn Volatile

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No High Inflation Warning From US Ahead Of CPI Print As Crypto Markets Turn Volatile

Mixed signal expected ahead of CPI

Bitcoin price braces for US inflation data as rising heat around CPI rates halted rally but increased volatility. Markets nominally surged ahead of the announcement, resembling a similar move before the previous inflation rate was revealed.

However, crypto markets may have mixed reactions as popular analyst Daan Crypto Trades lowers likely CPI rates.

The analyst believes signals may remain neutral at this time as markets may need time to digest and analyze the impact of new numbers. Although the CPI may decline year over year, the core may remain high as it consists of food and energy prices.

Daan Trades also highlighted the trends of recent times as markets tend to rise with the rollout of all rates, which is usually limited in the short term. As a huge setback follows the surge and the highs are pushed back for another few months.

Read also : Ethereum price set to drop to $1,300 as Bitcoin issues buy signal

This is not the right time to trade

The US CPI rates could be out at any time and as a result the markets are getting quite volatile. Bitcoin price has moved more than 5% since the first hours of trading with strong buying pressure pushing the price higher. While BTC price marked the lowest level at around $22,600, it also broke daily highs above $23,700.

Therefore, a huge margin over $1,000, in the absence of a bull market, is quite unusual. Therefore, another analyst, John Wick, advised his 93.7k followers to stay away from any type of trade today.

He also said to drop positions and allow markets to stabilize, indicating the possibility of huge price swings. Collectively, the US CPI numbers could be another attempt to disrupt the crypto space. But the markets could be stabilized very soon with the new CPI printing rolling out soon!

Read also : Bitcoin ready for a breakout! BTC price will hit $28,000 in the next 10 days

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