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Instead of the anticipated 8.1% inflation rate, the Consumer Price Index reported yesterday revealed an 8.3% YoY increase.The outcome was a severe drop in the cryptocurrency market. In the previous day, the price of <a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow">bitcoin</a> fell by nearly 10%. Ethereum lost another 8% in the interim. However, the next Producer Price Index data could spark a significant cryptocurrency spike.The change in the price that producers are paid for their goods and services is represented by the producer price index. These numbers are also available from the US Bureau Of Labor Statistics. Elon Musk’s warning about deflation now appears more realistic as the Fed prepares to make a significant rate hike.Why PPI Is Critical For A Crypto RallyThe CPI statistics from yesterday confirmed the Fed’s hawkish position. The Federal Reserve is prepared to raise interest rates significantly at the upcoming FOMC meeting on September 21. According to experts, markets are currently factoring in a 48% possibility of a 100 bps increase in interest rates. Despite the massive boost, the Fed won’t change course for at least one more FOMC meeting.The CPI, however, is viewed by many as a lagging gauge of inflation. There is no doubt that the cost of goods and services has decreased. Therefore, many think that the PPI data from today, which provides a more realistic picture of the amount of inflation, can moderate the Fed’s position.The CEO of Eight Global and a well-known crypto influencer, Michael van de Poppe, thinks the PPI would boost <a href="https://www.coingabbar.com/en/cryptocurrency" rel="noopener noreferrer nofollow">the cryptocurrency market</a>.Major crypto influencer &#64;wolf-of-streets claims that the PPI may even be more significant than the CPI data released yesterday. -0.1% is the anticipated MoM change. The cryptocurrency markets will rise if the anticipated PPI does, in fact, hold, as it is an indication that inflation is slowing. Additionally, he says that deflation is imminent.Most commodities have seen a decrease in price since the COVID price explosion. Production costs have decreased in the meanwhile. Risky asset prices could therefore increase at any time.The PPI figures are provided by the US Bureau of Labor Statistics. At 6:00 PM IST today, it will be made available.Get the more crypto related updates on ;- <a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow">https://www.coingabbar.com/en/crypto-news-english</a>

A Crypto Rally Is About To Make Up For Yesterday’s Loss.

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