The digital currency market is waiting for the release of the US Consumer Price Index (CPI) this week, which could significantly impact the Federal Reserve’s interest rate policies. Recent labor market data showing signs of slowing job growth have strengthened hopes for an interest rate cut. Following this report, Bitcoin temporarily crossed the $100,000 mark, reflecting investor optimism. In addition to the CPI index, the market is also focused on the Producer Price Index (PPI) and the testimony of Jerome Powell, the Federal Reserve Chair, in the US Congress. These events are expected to provide clues about future Federal Reserve policies and determine the direction of financial markets, including digital currencies. If the inflation rate exceeds expectations, selling pressure in financial and crypto markets is likely to increase.
