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The U.S. March unadjusted CPI year-over-year dropped to 2.4%, down from 2.8% last month and below the 2.6% market expectation. While this signals cooling inflation, the market reaction has been muted.
How will this impact the Fed rate cut expectations and the crypto market? Share your thoughts with #CPIDataComing for a chance to win a $50 reward!
Event Time: April 11, 6:00 AM - April 12, 6:00 AM UTC
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10x Research: Decreased inflation may trigger a new round of BTC Rebound
Odaily Planet Daily News 10x Research's Markus Thielen said most market participants expect the inflation rate in the report released by the U.S. Census Bureau on February 12 to pump 2.9% year-on-year. However, he said that the U.S. Truflation inflation index (real-time inflation tracking indicator) has dropped from 3.0% to 2.1%, indicating that inflation pressure "may be easing faster than expected". He said: "If CPI unexpectedly falls to 2.7% or 2.8%, Bitcoin may experience a Rebound." If the Bitcoin price pumps another $10,000, it will reach $105,491, only 3.5% lower than the historical high of $109,000 set on the eve of Trump's inauguration on January 20th. (Cointelegraph)