Economists who closely follow inflation data closely because they believe that the upcoming update could set the direction of the cryptocurrency market.
Alex Krueger told 117,100 followers on Twitter that inflation is now number one. they from the Federal Reserve.
According to economists, the Fed has become this hawkish It is considered Multiple interest rate hikes and gradual asset purchases this year to counter rising inflation.
smarter Highlight If the Fed implements its plans, the lack of liquidity in the system could have a negative impact on the cryptocurrency market.
Crypto assets are at the extreme end of the risk curve.
As money moves into safer asset classes, they are experiencing unexpectedly tight monetary policy, just as they have benefited from extremely loose monetary policy. “
Bitcoin (BTC) is down more than 40% from Kruger’s all-time high Tells The latest data on the Consumer Price Index (CPI), a tool for measuring inflation, may point to the next phase of the cryptocurrency market cycle.
“We have US inflation data on Wednesday…if CPI is surprised to see a dip, expect the price to go up for a while and turn trendy. If CPI is surprised to be upside, it will be ‘off’. BTC It will be 30 thousand dollars. tandem [traditional finance] Make sure.
If the numbers match your expectations, it’s 7.1%, which is baffling. It makes sense for the bear to try to break the dips, attempt a false breakout, and attempt a fierce rally after being given a chart.
However, cryptocurrencies follow Bitcoin and Bitcoin follows stocks. “
keylogger too Tells He believes that the Fed is prepared to see a pullback in the market just to keep inflation in check.
The Fed says it is ready to stab the bubble. Such is the case with bears. The bullish case is that inflation starts to surprise on the down side constantly and they don’t have to.
Inflation is everything. “
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