Coinspeaker
US CPI, Easing Inflation to Push Bitcoin and Altcoins Higher?
As Bitcoin
BTC
$94 722
24h volatility:
2.2%
Market cap:
$1.88 T
Vol. 24h:
$43.23 B
and altcoins continue to be under pressure, market analysts are closely awaiting the US CPI data on Wednesday, wherein a lower-than-expected print and easing inflation could drive the market upwards.
Later today, February 12, the US Labor Department will release the Consumer Price Index (CPI) report for the month of January. Analysts are expecting a 0.3% month-on-month increase in the cost of living, slightly lower than the 0.4% in December. The year-on-year inflation rate is anticipated to remain steady at 2.9%, matching December’s reading.
As per the earlier
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