Bitcoin (BTC) price remains relatively volatile as it prepares for a busy week with a slew of US economic data releases. The US Consumer Price Index (CPI) or US Inflation data for July is set to be released on August 14 at 12:30 PM GMT and will increase the volatility of risk-on assets like Bitcoin, Ethereum, and stocks.
Investors can expect a slight uptick in the July inflation data, as economists predict a 0.2% month-over-month increase. The core inflation rate, which excludes food and energy prices, is expected to rise 0.3% from the previous month. However, the US core inflation rate forecast shows that it could hold steady at 3.3% annually. The overall CPI is expected to rise to 3.0%, up from 2.9% in the previous month.
July Inflation Data
Since the forecasts suggest a moderate increase in inflationary pressures, it could impact the Fed’s opinion on the upcoming interest rate cut decision.
The target interest rate is currently within the 525 to 550 basis point range. CME’s
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