- CPI data and FOMC decisions are crucial for crypto market trends.
- Bitcoin often corrects before CPI release, then rebounds.
- Recent Bitcoin dip highlights the market’s anticipation of policy changes.
A significant week awaits the cryptocurrency market, with incoming Consumer Price Index (CPI) data and Federal Open Market Committee (FOMC) interest rate decisions. Michaël van de Poppe, founder of MN Trading, emphasizes the importance of these events for market dynamics.
It’s a big week for the markets, as tomorrow the markets will receive the new CPI data & interest rate decisions from the FOMC.#Bitcoin and crypto almost always correct before the event, and return upwards after.In the previous months, the same price action took place.
— Michaël van de Poppe (@CryptoMichNL) June 11, 2024
Bitcoin and cryptocurrency markets have historically reacted to economic announcements. Typically, Bitcoin and cryptocurrencies often experience a correction before FOMC decisions and CPI data releases, followed by an upward movement.
As traders and investors anticipate policy statements from the U.S. central bank, Coin Edition had an updated report on Bitcoin’s price,…
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