The post US CPI In Focus As Bitcoin & Altcoins Gear Up For Further Rally appeared on BitcoinEthereumNews.com.

The crypto market enters a crucial week, with the US CPI inflation figures in focus. In addition, the US Producer Price Index (PPI) data, another critical inflation metric considered by the US Federal Reserve to decide their rate cut plans, is also scheduled for this week. Notably, investors eagerly await this figure as Bitcoin as well as the altcoins sector is gearing up for further rally, potentially hitting new records ahead. Crypto Market Awaits US CPI Inflation Figures The crypto market has noted a strong rally recently, with investors anticipating the rally to continue ahead. Now, with the robust Labor market, as evidenced by last week’s Job data, traders are eagerly waiting for the upcoming US CPI inflation figures. For context, the US added 227K jobs in November, up from the market expectations of 220K. Besides, the US unemployment rate also rose to 4.2% in November, up from 4.1% in the prior month. Notably, the economic indicators tend to influence the broader financial market, let alone the digital assets space. Having said that, inflation and other key figures play a key role in shaping the market sentiment. Now, investors eagerly await the US Consumer Price Index data, which is scheduled for Wednesday, December 11. According to the market forecast, the inflation is expected to come in at 2.7%, as compared to 2.6% in the prior month. Simultaneously, the Core CPI, which excludes food and energy prices, is expected to cool down to 3.2% from 3.3% noted in October. A hotter-than-anticipated inflation figure usually results in a waning risk-bet appetite of the traders. On the other hand, the US PPI data, another key metric to gauge inflationary pressure, is scheduled for Thursday, December 12. The market participants would also keep close track of these figures for clarity on the current inflationary…

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Filed under: News - @ December 8, 2024 2:35 am