CPI Data Drops Tonight: Will Bitcoin Keep Falling or Stage a Powerful Rebound?
At 9:30 PM Beijing time on November 10, the United States will release its October CPI data. As the final inflation report before the Federal Reserves December policy meeting, it could play a decisive role in shaping expectations for the Feds next interest rate decision. This release comes with an unusual complication: because last years U.S. government shutdown resulted in missing baseline data, year-over-year figures for both headline and core CPI are likely to be unavailable. As a result, markets will have to rely heavily on month-over-month readings and individual components to assess the true direction of inflation. Meanwhile, Bitcoin has continued its downward slide, recently hitting a low of around $73,500. From its late-September rebound peak of $87,400, BTC has fallen approximately $13,000, representing a decline of 15.9%. Ethereum has suffered an even steeper correction, dropping from its rebound high of $2,806 to a recent low of $2,050, a maximum decline of 26.9%. So, what comes next？ Will Bitcoin continue falling, or is a powerful rebound around the corner？CPI Data: Unlikely to Reverse Rate-Hike Expectations, but Could Trigger Sharp Short-Term Volatility The current consensus forecasts are: Headline CPI MoM: +0.3% (previous: +0.6%) Core CPI MoM: +0.2% (previous: +0.3%) The most likely outcome is that both figures
