Crypto Market Eyes US CPI: BTC, Altcoins Rally to Sustain?
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Key Insights: The crypto market eagerly awaits the US CPI and US PPI inflation figures this week. The US CPI is expected to witness a modest increase in June. Bitcoin price has touched a new all-time high today, sparking market optimism. Bitcoin price has taken the crypto market by storm, touching a new all-time high, with the altcoins following suit. BTC price has soared past the $122k levelef. This reflects the shifting focus of investors towards the risk-bet assets like digital currencies. Community discussions are soaring over a continuing rally in the coming days in the assets’ prices. Market participants eagerly await the crucial inflation figures this week. For context, the US Consumer Price Index (CPI) inflation is expected to come out on Tuesday, July 15. In addition, another crucial inflation metric, US Producer Price Index (PPI) data, is scheduled to be released on Wednesday, July 16. So, here we explore the Wall Street expectations for the data and how it may impact the upcoming movements of BTC and altcoins. Crypto Market This Week: US CPI Inflation In Focus The crypto market has started the week with great enthusiasm, as evidenced by the recent movements of the top players. Amid this, the investors are waiting for the upcoming US CPI inflation data for cues on the economic health. According to Wall Street estimates, the US CPI data on Tuesday is expected to spike to 0.3% for June, as compared to 0.1% recorded in the prior month. On a year-over-year (YoY) basis, the inflation is expected to come in at 2.7%, up from 2.4% recorded in May. On the other hand Core CPI, excludes the food and energy prices. It is expected to come in at 0.3%, up from the 0.1% figure of the prior month. Simultaneously, the Core CPI, on…
