Crypto markets are remaining muted after an initial bright start on Tuesday. U.S. CPI data is due to be published later today. How will bitcoin and crypto react?
New inflation figures due
With the U.S. Consumer Price Index (CPI) figures due out later today, more will be known whether inflation will make an anticipated decrease. Energy prices are expected to help inflation make a 0.1% decrease, which compares favourably to the 0.4% and 0.6% seen in September and August.
Bitcoin approaches support
With this in mind, the crypto market is generally muted after an initial bounce early on Tuesday from the slump of the last few days. Bitcoin is continuing a slow bleed to the downside, but with strong support at $36,000 underneath there is nothing untoward with the price thus far.
Bitcoin’s behaviour to a positive or negative inflation figure will be interesting to see, given how much the premier cryptocurrency has de-correlated from stocks and traditional financial markets in general.
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