CandleFocus

All eyes on CPI and Fed, Is a Bitcoin correction coming in?

Author: Content Editor
The global financial markets are preparing for a busy week, with several major US economic events on the horizon. Following Donald Trump's election win and the Federal Open Market Committee's rate decision, investors have shown a bullish sentiment, causing Bitcoin to surpass $81,000 for the first time. Other altcoins like Dogecoin and Cardano have also seen significant jumps. However, upcoming events such as the release of the Consumer Price Index (CPI) inflation data and Fed Chair Powell's speech could potentially impact market sentiment. Other key events this week include the OPEC Monthly Report, initial jobless claims, PPI report, and retail sales data. The crypto market is closely tied to macro trends, and each data release has the potential to cause significant swings. Currently, the Fear and Greed index indicates "Extreme Greed" in the market, with the global crypto market cap and trading volume experiencing significant increases. Bitcoin futures and CME futures premiums have also seen a surge, indicating high demand for call options. As of press time, Bitcoin is trading at an average price of $81,159.

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