While this week has been a week of critical developments for Bitcoin (BTC) and cryptocurrencies, US inflation data will be announced today.
This data will also be followed closely by Bitcoin investors. Because CPI data coming in at or below expectations will increase the possibility of the FED making its first interest rate cut in September. A possible interest rate cut will further support the rise in BTC and crypto prices.
According to Investing data, while the previous CPI data was 3.3%, the expectation is 3.1%. This situation signals that inflation will decrease.
So, what are the June CPI expectations of Wall Street giants?
June CPI Inflation Expectations:
“1. TD Securities: 3.0% 2. Barclays: 3.1% 3. Citigroup: 3.1% 4. Factset Consensus: 3.1% 5. Kalshi: 3.1% 6. UBS: 3%, 1 7. Bank of America 3.2% 8. Goldman Sachs: 3.2% 9. Morgan Stanley 3.2%
If CPI data is as expected (3.1%), inflation will have fallen to its lowest level since January 2024.
A CPI data below 3.0% will be seen again after approximately 3 years. Because the CPI last fell below 3.0% in March 2021. In other words, inflation has been above 3.0% for 38 months without interruption.
US inflation data for June will be announced today at 15:30.
*This is not investment advice.
