The cryptocurrency market is currently navigating a tumultuous period, influenced by macroeconomic concerns that have significantly impacted investor sentiment. The upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) reports scheduled for release in the United States next week have become focal points for traders. Market participants are keenly awaiting how these inflation metrics will shape the performance of Bitcoin $94,059 and various altcoins.
What To Expect from CPI Data?
The cryptocurrency market is closely monitoring the CPI data, set to be released on January 15. The CPI will provide critical insights into the overall health of the U.S. economy. Recent robust employment figures and statements from central bank officials have heightened concerns among investors.
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