US Inflation Report Impacts: Decoding Its Potential Effect on Bitcoin and Altcoins

Cryptocurrency market is all eyes on the US inflation data to be announced today. The upcoming inflation data is deemed important due to its potential to impact Bitcoin (BTC) and altcoins. Countdown for Critical US Inflation Data Begins Global markets, including the crypto market, are closely following the US inflation data to be announced today at 15:30. The importance of these data points is magnified as they are the last inflation figures before the Federal Reserve’s July meeting. While it is expected that the headline inflation of the US economy has dropped to 3.1%, the lowest level in two years, in June, the core inflation, calculated excluding volatile food and energy prices, is expected to drop from 5.3% to the lowest level of the last 18 months, 5%. Analysts predict that depending on the price index, core inflation could further decrease to between 3.5% and 4% in the coming months. […] The post US Inflation Report Impacts: Decoding Its Potential Effect on Bitcoin and Altcoins appeared first on COINTURK NEWS.