The post How did Bitcoin and Ethereum React to the CPI Report? appeared first on Coinpedia Fintech News
The release of Consumer Price Index (CPI) inflation numbers recently created some buzz in the market. While many were expecting a 3.6% year-over-year inflation rate, the actual data revealed a slightly higher figure of 3.7%. The upcoming Federal Reserve meeting, or FOMC meeting, is critical. Market participants largely anticipate no rate hike at this meeting, which would maintain current interest rates.
However, according to Crypto World on YouTube, the Bitcoin chart has not changed much recently. Bitcoin is still finding support in the range of $24,300 to $25,300. While it hasn’t broken free from its bearish trend entirely, it’s essential to note the potential signs of a bullish divergence.
The Bitcoin chart is showing a positive sign as it bounced from a critical support level that was once a barrier. While we’re not completely out of the downward trend, there’s a chanc
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