The monthly and annual rates of the US CPI for October will be announced at 21:30 tonight. Many people believe that the BTC pullback in the past two days is due to the risk aversion of some investors to CPI.
In my personal opinion, I don’t think the current CPI has much impact. The current monetary policy of the Federal Reserve is unlikely to change due to one month’s data. Bao said at the September interest rate meeting that the expectation at that time was two 25 basis points.
So I think today’s CPI data will not have a big impact on the Federal Reserve, but it will have an impact on user sentiment. After all, from the current expected data, except for the possible increase in CPI, other data are the same as last month, and the annual rate of CPI is also the most concerned by everyone. So when the data meets expectations, it is not ruled out that there will be a small wave of selling in the BTC market, but it may only be short-term. Unless the CPI data increases significantly, it should not affect the current trend of BTC.
Of course, if the data is lower than expected, after all, it is the data of the Bureau of Labor Statistics, then it will definitely be good for the BTC market. But the actual positive will also be very limited
