Tonight at 21:30, is the cryptocurrency market about to change? The US CPI data is coming!
Attention cryptocurrency friends! Tonight at 21:30, a bunch of important data including the US November seasonally unadjusted CPI year-on-year will be released. This directly concerns the market direction, so keep a close watch!
The US November seasonally unadjusted CPI year-on-year is predicted to be 3.1%. If this data exceeds expectations, the Federal Reserve's interest rate hike expectations may change, directly affecting the US dollar, US stocks, and the cryptocurrency market will undoubtedly shake!
Let’s not forget the number of initial unemployment claims in the week ending December 13 in the US, previous value 236,000, forecast 225,000. Employment data can also stir market sentiment and indirectly affect the flow of funds in the crypto market.
Not to mention the US November seasonally unadjusted core CPI year-on-year (forecast 3%), and the December Philadelphia Fed Manufacturing Index (forecast 3, previous value -1.7). These economic indicators are like the first domino, once it moves, it triggers a chain reaction.
How many times before, when US economic data was released, the cryptocurrency market instantly surged or plummeted, making contract traders feel like they were in heaven or hell in an instant, and spot trading followed suit like a roller coaster. If tonight’s data deviates greatly from the forecast, regardless of whether it’s positive or negative, the market will definitely explode!
Now we just have to wait for the moment the data is revealed, whether it will feed the cryptocurrency market “stimulants” or splash “cold water”. For those holding positions, keep your eyes on the data; for those looking to enter, wait for the data to land and clarify the direction before acting.
Tonight is destined to be another sleepless night of excitement in the cryptocurrency market. Are you ready to embrace the volatility?
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