4 US Economic Indicators to Watch This Week As Bitcoin Reclaims $122,000
The post 4 US Economic Indicators to Watch This Week As Bitcoin Reclaims $122,000 appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) price is attempting to reclaim its recent highs, foraying above the $122,000 threshold. However, whether the climb is sustained or breaks hinges on several US economic indicators that are due for announcement this week. With Bitcoin now in the hands of institutions just as much as it is accessible to retail, US economic data points significantly influence the pioneer crypto. US Economic Indicators That Could Derail Bitcoin’s Climb this Week Data on MarketWatch shows several US economic signals are on the schedule this week, each with its respective influence and impact on the market. US Economic Signals This Week. Source: MarketWatch CPI The US CPI (Consumer Price Index) is arguably the most important US economic signal this week. It is due on Tuesday, August 12. This data point drives Federal Reserve (Fed) interest rate policy expectations. According to the schedule data, economists project CPI to come in at 2.8%, which would indicate an inflation rise in July, year-over-year (YoY), compared to the 2.7% recorded in June. Goldman Sachs also projects the same outlook. The expectation comes amid Trump’s Tariff woes, which went into effect on August 7 for yet another series. “CPI Inflation data hits Tuesday! Economists’ consensus is that tariffs drove July’s CPI higher,” wrote Peter Tarr, a private investment manager. A hotter-than-expected reading, which means anything above 2.8% would strengthen the dollar, putting downward pressure on the Bitcoin price. However, if the US Department of Labor reveals a softer print, say below the 2.7% seen in June, it may spark a crypto rally. “After recent unemployment data, the September rate cut probability is at 91%. If CPI comes in lower than expected, the September rate cut will be confirmed. This will help risk-on assets rally even more. In case CPI comes in higher than expected, rate…
