Cryptocurrency Market Struggles Amidst Uncertainties from Recent US Economic Data

Recent US economic data releases have presented challenges for cryptocurrency markets. Preliminary figures, including consumer confidence and inflation expectations, reveal a mixed picture. Despite preliminary indications that inflation has decreased to 3.9% (from 3.4%), the overall outlook is less favorable for cryptocurrencies. The consumer confidence index declined in August, falling from 61.7 to 58. This drop reflects concerns regarding inflation and rising anxieties surrounding tariffs. Furthermore, expectations of long-term inflation jumped to 3.9%, contributing further to a challenging environment for digital assets.