If US Inflation Drops Below This Level, Cryptocurrency Prices May Crash.

The release of the US Consumer Price Index (CPI) comes today, and the cryptocurrency community is humming with anticipation and apprehension in equal measure.

The crucial statistic is 8.3% from previous month. For traders and investors, any decline in that figure will serve as a buy signal because it shows the Federal Reserve is keeping inflation from rising.

If it comes in higher than 8.3%, a significant sell-off is anticipated.

At 8.30am EST (12.30pm UTC / 1.30pm UK), the information will be made available.

Investors Wait for CPI Data.

Michal van de Poppe, a well-known cryptocurrency trader and the CEO and founder of the trading firm Eight, succinctly summarised the market on Thursday morning in a Tweet.

“Markets selling off as anxieties spike over today’s CPI,” he added. possibly the year’s most touted data point.

In the past 12 hours, a number of traders and analysts have posted similar opinions on Twitter. Ash WSB, for example, forecasts an impending “boom” if the CPI is below 8% and a “dump” if it is above 8.2%.

Many traders predict that Bitcoin, which is now trading below $19k, will soar beyond $20k in the event of good news and fall below $18k in the event of bad news.

August CPI was 8.3%, according to IncomeSharks, a significant dealer. The CPI for September is predicted to be 8.1%.

Even if it wouldn’t amount to much, markets and headlines may all scream, “Inflation is decreasing, the FED is doing such a great job!”

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