research analyst at Kaiko Riyadh Carey“Thursday today’s inflation As the announcement approaches, there seems to be some uneasiness and risk aversion in all markets today.”
Investors Will Take Positions Based on Thursday’s Inflation Data
Riyadh Carey, “bitcoin “It’s moving in line with stocks and I expect that to continue as there haven’t been many crypto-specific determinants in recent weeks.”
He also stated that on Thursday, depending on the inflation figure, I expect a significant fluctuation with a downward or upward movement.
Bureau of Labor Statistics on Thursday September will release the consumer price index. Economists surveyed by the Dow Jones report that the CPI’s monthly 0.3% and annual 8.1% expects it to increase.
Investors are watching these updates closely for clues about the Federal Reserve’s next move in the fight to reduce inflation.
“We believe there is a rhetoric that central banks are starting to make policy mistakes,” James Butterfill, director of research at CoinShares, told CNBC.
He cited the interventions of the Bank of England, the concerns about the pessimistic picture of the FED and the timid interest rate hikes of the European Central Bank as examples.
“Many of our customers are now bitcoin that they do not want to buy, but as soon as the FED changes position purchase They said they would do it,” he added.
Despite the concern from investors, the volatility of cryptocurrencies has been unusually low in recent weeks, and its correlation with equities still remains positive.
bitcoin It finished Sunday at $19,000 for the fourth time in a row.
In today’s research note, data provider Kaiko said, cryptocurrency The high volatility trend that has persisted since the market’s massive crash in June may be coming to an end, based on hourly data.
*Not investment advice.
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