Leading cryptocurrency Bitcoincontinued its strong rise that started last week and exceeded $ 50,000.
BTCWhile this rise in has triggered a significant rise in the crypto market, inflation data from the USA will be followed today.
at this point Wall Street giants are expecting a big drop in both CPI and core CPI inflation data.
Despite the significant decrease in inflation, the FED is cautious about interest rate cuts in March, while future economic data is expected to give an idea about the FED’s interest policy in the following months.
Wall Street giants disagree on the decline in inflation. JPMorgan, Bank of America, UBS, Morgan Stanley, Citigroup, Deutsche Bank, Nomura and RBC forecast annual CPI inflation to fall from 3.4% to 2.9%.
However, Barclays Goldman SachsNames like , TD Securities and Wells Fargo expect annual CPI to fall from 3.4% to 3%.
On the other hand, giant names such as Citigroup, Deutsche Bank, JPMorgan, Morgan Stanley and UBS estimate that the annual core CPI will decrease from 3.9% to 3.7%. However, while Bank of America, Barclays, TD Securities and Nomura expect the annual core CPI to fall to 3.8%, Goldman Sachs thinks it will remain stable at 3.9%.
“While the expectations are in this direction, according to the data provided by Investing, the expectations are listed as follows.
Annual Core CPI: Expected 3.7%
Annual CPI: Expected 2.9%
Monthly Core CPI: Expected 0.3%
Monthly CPI: Expectation: 0.2%
US inflation data will be announced at 16:30 GMT.
While the decline in inflation provides more data for the FED to start reducing interest rates in the coming months, the interest rate cut is expected to bring further rise to BTC and cryptocurrencies.
At this point, CME FedWatch shows that the probability of a 25 basis point interest rate cut by the FED in May is 50%, with a higher probability in June.
Bitcoin At the time of writing, it continues to be traded at $ 50,047.
*This is not investment advice.
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