Cryptocurrencies: Upcoming Volatility and Inflation Data Impacting the Market

On the eve of a busy week for cryptocurrencies, incoming data is expected to escalate market volatility. Following ETF applications, Bitcoin‘s price quickly escalated. Although BlackRock’s support has pulled the price up by thousands of dollars, it hasn’t been sufficient for more. So what does the upcoming week hold? Will Cryptocurrencies Increase? The eagerly awaited US inflation data will be announced at 15:30 on Wednesday, July 12. A continued decrease is expected due to the base effect. This could also mean a temporary opportunity for cryptocurrencies to surge. However, markets might not price in this positivity as employment and wage increases did not meet expectations. The unpredictability of crypto creates uncertainty until the response to the low inflation data is seen. Powell had stated that a 25bp interest rate increase could come for the meeting in July. We’ll see more concrete signals regarding the last 2 planned interest rate increases […] The post Cryptocurrencies: Upcoming Volatility and Inflation Data Impacting the Market appeared first on COINTURK NEWS.