Crypto Markets Brace for Inflation Data Release

Investors are holding their breath as the upcoming US Consumer Price Index (CPI) release will shape the crypto market’s near-future. Bitcoin has experienced a dip, losing over 2% in value after hitting a record $122,000 earlier this week, possibly due to pre-release anticipation and speculation regarding the CPI’s impact on future Fed policy. Analysts anticipate July’s CPI will rise from previous months, potentially exceeding expectations with an annual increase of 2.8%. The anticipated inflation data could significantly affect market sentiment and investor behavior, particularly in the volatile crypto sphere.