US CPI Inflation Data Release Sparks Market Anticipation
- The US CPI inflation data is set to be released on October 24, amidst a government shutdown.
- If the headline CPI inflation exceeds 3.1%, the Federal Open Market Committee may opt to maintain current rates.
- Bitcoin’s price surged over 3% to $111,049, with trading volume increasing by 75% in the last day.
- Ethereum rebounded above $4,000, while BNB and XRP rose by nearly 3% and over 4%, respectively.
- Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are scheduled to meet this week amid US-China trade talks.
The upcoming CPI data release is crucial as it could influence the Federal Reserve’s decision on rate cuts and increase volatility in both stock and crypto markets. Investors are particularly focused on how these economic indicators will shape market sentiment amid ongoing trade discussions between the US and China.
With Bitcoin currently trading at $111,049 after a notable rise, traders are eager for further developments following the CPI announcement.(Source)
