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  <p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/crypto-market-outlook-brace-for-market-volatility-ahead-of-cpi-report-today/">Crypto Market Outlook: Brace for Market Volatility Ahead Of CPI Report Today</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
  <p>In less than 24 hours, new inflation data will be released, which could significantly affect the market in the short term. The current year-over-year inflation rate in the US is at 4% in the CPI inflation. However, market expectations suggest that this rate will drop to around 3.1% with the release of tomorrow’s numbers. The trading economics forecast predicts a drop to 3.2% year-over-year inflation.&nbsp;</p> 
  <p>According to a new YouTube video by Crypto World, higher interest rates are generally seen as bearish for the economy and the market. Conversely, if the inflation number comes in above expectations (around 3.5% or closer to 4%), it could be considered bearish as it may imply the need for higher interest rates, which is less favorable for the economy and the market.</p> 
  <p>In addition to the inflation numbers, it’s essential to keep an eye on upcoming FOMC meetings. The next meeting is scheduled for the 26th of July, with the market currently expecting one more 25 basis point hike. This means an increase in interest rates by 0.25%.&nbsp;</p> 
  <h2 class="wp-block-heading" id="h-crypto-market-outlook">Crypto Market Outlook</h2> 
  <p>Bitcoin is currently facing resistance around the $31,000 level. There is a short-term bearish divergence, indicating a pause in the larger bullish trend. A confirmed breakout above the $31,000 resistance level could lead to the next target of around $37,000. </p> 
  <p>Ethereum is still within a larger bullish trend, despite a short-term pause. According to him, there might be no major crash or dump in the short term, but rather sideways or slight pullback price action. The Fibonacci levels of support sit around $1,820 and $1,640.</p> 
  <p>He added that Ethereum is currently holding above the support level at around $1,820. While the price remains within the support and resistance levels, we can expect neutral short-term sentiment with some slight bullish relief.</p> 
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   <div class="wp-block-embed__wrapper"> <iframe title="WATCH BEFORE TOMORROW (CPI inflation)!! Bitcoin News Today &amp; Ethereum Price Prediction (BTC &amp; ETH)" width="1220" height="686" src="https://www.youtube.com/embed/vQuAIa0Qx7I?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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Crypto Market Outlook: Brace for Market Volatility Ahead Of CPI Report Today

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