CPI - Week's Crypto Highlights: CPI Data Impact SEC Bitcoin ETF Delay And FTX's $3.4B Liquidation | Benzinga
The U.S. CPI and PPI inflation figures set for release this week could be a defining moment for the crypto industry. With interest rate hikes forecasted to be paused, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) prices are seen rebounding from the bottom. This is seen to potentially have a bullish impact on crypto prices for the rest of the year.
The CPI data is slated for a Wednesday release, while PPI will be out on Thursday. CPI is anticipated to come in at 3.6%, higher than July's level of 3.2% while Core CPI YoY is expected at 4.3% against 4.7% in July. Core PPI MoM data is expected at 0.2%.
At the time of writing, Bitcoin is trading 2.6% lower at midday, having fallen 14.5% over the past month. Ether prices on the other hand are down 3.5%, and 15.5% ...