Yen intervention meets US inflation data: Five things to know in Bitcoin this week
This week’s CPI and PPI prints, along with the Fed’s Sept. 16 rate decision, could determine whether Bitcoin can secure $80,000 as a support level.
This week’s CPI and PPI prints, along with the Fed’s Sept. 16 rate decision, could determine whether Bitcoin can secure $80,000 as a support level.
Bitcoin (BTC) sees its first weekly close above $80,000 since early May as clouds gather over the US inflation outlook.
US inflation data returns to the forefront this week after surprise employment data pressured crypto and risk assets. The August prints of the Producer Price Index (PPI) and Consumer Price Index (CPI) are due for release on Thursday and Friday, respectively.
Crypto markets remain highly sensitive to moves in USD/JPY and associated headlines due to the potential longer-term impact on the yen carry trade and liquidity trends.