Reserve

Wednesday

Bitcoin

Read

<div class="coingape"> 
 <p>Meanwhile, core inflation, which excludes volatile food and energy, is expected to ease to 4.3% from 4.7%. This <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> release is key data that will determine whether the U.S. Federal Reserve opts for further monetary policy tightening or a pause. The Fed hiked rates by another 25 bps last month to further curb inflation.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div> 
  <div id="my-banner-ad" class="d-inline-block"></div> 
 </div> 
 <p>Wall Street forecasts <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> to come in line with market consensus. JPMorgan estimates a chance of <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> coming in at 3.6% influencing markets to pick slight upside momentum amid core inflation falling.</p> 
 <p>Goldman Sachs, Bloomberg, Morgan Stanley, RBC, and Wells Fargo also expect <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> to come in at 3.6%. Whereas, Visa and CIBC predict <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> at 3.5%. However, Barclays, Nomura, Citi, and HSBC are expecting <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> to rise to 3.7% for August.</p> 
 <p>Analysts believe the U.S. Federal Reserve is likely done with rate hikes as the jobs market cools and the unemployment rate climbed last month. The CME FedWatch Tool shows&nbsp;a 93% probability of announcing a pause at the next FOMC meeting on September 20. Wall Street analysts also believe a possible rate hike at the end of the year. Meanwhile, the US dollar index (DXY) still remains higher above 104.50, risking BTC price to continue under pressure.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/11/7e58ad9c1a42839a3662e4795facbe5e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/11/7e58ad9c1a42839a3662e4795facbe5e.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/11/472515f3ab5ae759f4e49d6afa8bc33a.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/11/472515f3ab5ae759f4e49d6afa8bc33a.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [UPDATED]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/11/538437580b529f127562491e7213369a.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/11/538437580b529f127562491e7213369a.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Best Crypto Exchanges and Apps September 2023 </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/13/8f32e5e326a5041be0cd38c65f5c51f1.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/13/8f32e5e326a5041be0cd38c65f5c51f1.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top Meme Coins to Buy Now: What You Need to Know</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/12/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/12/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>US stock futures trading flat on Wednesday as investors look ahead to a key US inflation report that could influence the trajectory of Federal Reserve monetary policy.</p> 
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Turns Bullish Mid-Week, Will Gains To $28k Sustain</strong></p> 
 <h2 id="how-bitcoin-and-altcoins-will-react-after-cpi">How Bitcoin and Altcoins Will React After CPI?</h2>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">A higher-than-expected <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> report is bearish for </span><span class="r-18u37iz">crypto</span><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">, while a lower-than-expected reading should be taken as bullish. Consider core <a rel="noopener noreferrer nofollow" title="CPI" href="https://thebittimes.com/tag/cpi.html">CPI</a> data for the month is crucial amid an increase in oil prices.</span></p> 
 <p>BTC price is showing volatility before the CPI data, with the price currently trading at $25,962. The 24-hour low and high are $25744 and $26451, respectively. BitMEX co-founder Arthur Hayes said the U.S. Federal Reserve deciding to cut interest rates will make Bitcoin quickly rally towards $70,000.</p> 
 <p>Meanwhile,&nbsp;ETH price jumped 1% in the last 24 hours. The price trades at $1591, with a 24-hour high of $1619. However, trading volume has decreased by 32% in the last 24 hours.</p> 
 <p>XRP price fell below support and currently trades at $0.47, up 1% in the last 24 hours.</p> 
 <p><strong>Also Read: Ripple President Makes Big Statement On Ripple Vs US SEC Lawsuit</strong></p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/wall-street-estimates-on-us-cpi-inflation-bitcoin-to-rebound-tbt62538.html">https://thebittimes.com/wall-street-estimates-on-us-cpi-inflation-bitcoin-to-rebound-tbt62538.html</a></p>

Wall Street Estimates On US CPI Inflation, Bitcoin To Rebound?

Table of Contents

TheBitTimes

Other articles published on Sep 13, 2023

APE Price Prediction: APE Persist In Sliding, More Drops Ahead?

Paxos confirms it's responsible for $500K mistaken Bitcoin transaction

A Comprehensive Guide to Keeping Your Cryptocurrency Safe 💰🔒

CPI Report: US Inflation Rises to 3.7%, Higher Than Expectations – Bitcoin Price Still Below $27K

opBNB layer-2 scaling solution launches on BNB Chain

Portals, The Protocol Aggregator Building ‘One-Click Defi’, Secures $500k Seed Extension

Join our free newsletter for daily crypto updates!