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US CPI data will be announced today. Let’s examine together what the situation and expectations are in the markets before the data. The market experienced an increase after yesterday’s US PPI data came in better than expected. While concerns about a possible recession in the US have begun to grow stronger, the low inflation data was a comforting development for the markets.
The annual CPI data to come today was expected to be 0.31 percent last month, but it was 0.3 percent. The previous month’s data was 3.3 percent. Currently, expectations are for the data to be announced as 0.3 percent, like last month.
A Look at the Cryptocurrency Sector Ahead of the US CPI Data
Bitcoin continues the day in the $60,800 band hours before the data is announced. Bitcoin, which closed its daily close at $60,500 yesterday evening, continues its day at the 60,800 support hours before the second most important data release this week.
If the US CPI data is better than expected like yesterday’s PPI data, we may see an increase in Bitcoin to the 62-63 thousand band. Good data that comes beyond expectations or expectations will continue the positive outlook in Bitcoin.
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