Major cryptocurrencies experienced small declines during Monday’s early Asian trade. Investors prepare for another interest rate hike on Wednesday as they wait for the release of the November consumer price index, a crucial inflation indicator.
On Tuesday, December 13, the Federal Open Market Committee (FOMC) will begin its subsequent two-day meeting. A rate increase of 50 basis points, which is 25 basis points less than the previous four increases, is anticipated.
A strong CPI report could remove prospects of a December Fed turnaround, which would increase selling pressure on BTC and ETH.