This news article discusses how rising inflation in the US could negatively impact the crypto market, particularly Bitcoin. The article states that recent developments in the US, including expectations of inflation and a more hawkish Federal Reserve, have contributed to uncertainty in the crypto market. It highlights that the upcoming release of key metrics, such as the Producer Price Index (PPI) and Consumer Price Index (CPI), will provide further insight into inflation trends. Trading Economics estimates suggest that inflation is expected to rise again, potentially putting selling pressure on Bitcoin and other crypto asset prices. The article also mentions the potential for upside drivers in the market if Bitcoin-related legislation is approved following the inauguration of President-elect Donald Trump. Additionally, it notes that the CME FedWatch tool indicates a high chance of the Federal Reserve leaving interest rates unchanged after their upcoming meeting.



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