Crypto Market Holds Breath as Inflation Data Looms
The cryptocurrency market is experiencing a period of consolidation as investors await the release of U.S. inflation data, which will influence the Federal Reserve's monetary policy decisions.
The Producer Price Index for August and the Consumer Price Index are due to be released on September 10 and 11 respectively, before the Federal Open Market Committee (FOMC) meets on September 15-16.
BTC, ETH, and XRP prices have been trading in a narrow band as investors weigh the impact of the inflation data on interest rates and the dollar's strength. Governor Christopher Waller has stated that if August inflation comes in hot, he would consider a hike in interest rates.