Recently, market analysts have been focusing on US inflation data, which has significant implications for economic trends and cryptocurrency markets.
Role of Macroeconomics and Inflation
The influence of Trump's support remains significant, but macroeconomic factors are crucial. For sustained growth in cryptocurrency markets, continued monetary easing by the Federal Reserve and other central banks is necessary. The Fed plans to implement a total reduction of 100 basis points this year, but unexpected inflation could alter the current outlook.
US Inflation Data
Recent statements from Fed members indicated that a surprising rise in inflation could lead to a pause in interest rate cuts. Today's inflation expectation was set at 2.6%, compared to the previous month's 2.4%. The core inflation expectation remains consistent with last month's figure of 3.3%.
Impact on Cryptocurrencies
The recently released inflation data aligned with expectations, positively impacting Bitcoin’s price, which is again testing the $89,000 mark. At the time of writing, the price is above $88,600. The weak annual increase in the data, which many feared would be disappointing, has been a positive revelation. Altcoins may experience further growth in the coming hours, and Bitcoin’s price could continue to rise depending on the performance of US stocks.
US inflation data has had a significant impact on cryptocurrency markets. Despite some concerns, the results were viewed positively, boosting Bitcoin and altcoin prices. Future economic decisions by the Fed will be key to the further development of these markets.
