๐จ CPI tomorrow: the data that could move
$BTC ๐
๐ Wednesday, October 14, 6:30 AM Guatemala time (8:30 AM ET)
๐ What the market expects
Headline inflation: 3.7% year over year (August: 3.4%), due to rising energy prices (tradingkey)
Core: 2.5% year over year (August: 2.4%) (tradingkey)
Monthly core: expected to fall to 0.2% (coinpedia)
๐ญ Scenarios
๐ด Hot reading (core above expectations): the likelihood of a rate hike rises and could put pressure on
$BTC and
$ETH โช In line: probably little reaction, with sideways movement
๐ข Soft reading (core below expectations): less pressure on the Fed, which could support Bitcoin and Ethereum (coinpedia)
โ ๏ธ Key context
The odds of the Fed raising rates in October are around 17% (rg)
This is the last CPI report before the Fed's October 28 decision (admiralmarkets)
Fed Chair Kevin Warsh speaks on October 16 (coinpedia)
๐ฏ My plan: don't open new positions right before the report. With BTC near 83K, I'm watching support at 82.3K. If there's volatility, I'll wait for things to calm down before acting.
โ What do you think will happen with CPI?
๐ข Soft
๐ด Hot
โ ๏ธ This is not financial advice. DYOR.
#OctoberMarketUp #CPIWatch #Bitcoin #Inflationdata #BinanceSquareTalks