Ethereum

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Bitcoin

April

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-braces-for-us-inflation-data-release" rel="noopener noreferrer nofollow">Bitcoin Braces for US Inflation Data Release</a><br></p>
<p style="text-align: justify">The impending disclosure of key inflation indicators by the United States is poised to influence the <a href="https://en.bitcoinhaber.net/strategic-asset-protection-in-a-shaky-global-economy" rel="noopener noreferrer nofollow">Bitcoin</a> market and the wider financial landscape. The release will include the annual core Consumer Price Index (CPI) rates for February, Producer Price Index (PPI) annual rates, and projections for one-year inflation rate expectations.</p>
<h2 id="market-suspense-precedes-economic-reports">Market Suspense Precedes Economic Reports</h2>
<p style="text-align: justify">Bitcoin and <a href="https://en.bitcoinhaber.net/ethereums-potential-breakout-a-closer-look-at-eth-and-btc-market-dynamics" rel="noopener noreferrer nofollow">Ethereum</a>, the <a href="https://en.bitcoinhaber.net/fed-chair-powell-sheds-light-on-economic-trends-as-investors-eye-inflation-data-and-crypto-movements" rel="noopener noreferrer nofollow">cryptocurrency</a> giants, have recently seen a decline from their peak values following a strong market uptick. The broader digital currency market is similarly reflecting a pause as investors await the release of crucial economic data. Other cryptocurrencies that enjoyed gains are also witnessing a downturn.</p>
<h2 id="analysts-eye-inflation-trends">Analysts Eye Inflation Trends</h2>
<p style="text-align: justify">The upcoming CPI data is anticipated to show a potential 0.3% increase from the previous month and a 3.7% rise year-over-year, marking the lowest annual growth since April 2021. A continued easing of inflation could reinforce the Federal Reserve’s inflation control measures. Additionally, there has been a reduction in the number of anticipated rate cuts, with swap pricing indicating a possible decrease from six to three by 2024.</p>
<p style="text-align: justify">Recent US employment data showcased a robust job market, although the unemployment rate has hit a two-year high. Morgan Stanley’s strategist Chris Larkin views the employment data as neither fully supportive nor disruptive to the Fed’s interest rate reduction strategy.</p>
<p style="text-align: justify">On-chain data provider Santiment reports that Bitcoin and Ethereum have outshone the S&amp;P 500 in terms of growth last week, with Bitcoin up by 10% and Ethereum by 14.7%. This performance has grabbed the attention of market analysts and investors alike as they consider the broader implications of the upcoming inflation reports.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-braces-for-us-inflation-data-release" rel="noopener noreferrer nofollow">Bitcoin Braces for US Inflation Data Release</a></h5>

Bitcoin Braces for US Inflation Data Release

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