Tonight at 8:30 PM, the U.S. April CPI will be released in a major event.



Oil prices remain stubbornly high, and the market is worried that the year-over-year CPI could reach the highest level in three years. If the data comes in above expectations, expectations for a Fed rate cut will cool, and there could even be expectations for an additional rate hike, which would strengthen the U.S. dollar and U.S. Treasuries—putting crypto assets under short-term pressure and increasing the likelihood of a pullback.

If the data comes in below expectations and inflation cools, rate cut expectations will be reignited. The U.S. dollar would weaken, and BTC and ETH could rebound, while low-level long positions continue to be held.

The current market is moving in a narrow range. Focus remains on the 80k level, as both bulls and bears are waiting for the CPI to break through and determine the direction.
BTC-1.18%
ETH-2.88%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin