The US Consumer Price Index (CPI) data, set to be released tomorrow, May 15 (Wednesday), at 8:30 am ET, is anticipated to be a potentially significant catalyst for the Bitcoin price. This expectation stems particularly from Bitcoin’s recent trend of responding to macroeconomic news, indicating a heightened sensitivity to such data in influencing its market dynamics. The CPI measures inflation by tracking changes in the price levels of a market basket of consumer goods and services. The upcoming report is of particular interest following three consecutive months where inflation data exceeded market expectations. Analysts currently project a slight moderation in inflation rates for April, which could have consequential implications for monetary policy and financial markets. CPI Preview: What To Expect For April, economists expect the CPI to show a year-on-year increase of 3.4%, a slight deceleration from March’s 3.5%. On a month-to-month basis, the increase is anticipated to slow to 0.3% compared to 0.4% previously. The core CPI, which strips out the more volatile costs of food and energy, is also expected to reflect a similar downtrend. The forecast sugg ..
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