This week, several crucial economic triggers, including Fed Chair Jerome Powell's testimony and CPI data, are expected to influence cryptocurrency market sentiment. Powell's statements on interest rates, inflation, and the economic outlook will be closely watched by investors. Additionally, the release of U.S. CPI data for January, core inflation data, and other economic indicators will provide insights into the health of the U.S. economy and potentially impact risk assets like cryptocurrencies.
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The markets will be closely watching these developments, which could set the tone for Bitcoin, Ethereum and altcoins in the near term.going out this week, especially fresh inflation numbers. A higher-than-expected CPI report might dampen prospects for an early rate cut, putting pressure on the cryptocurrency market, while a lower-than-expected figure could fuel a risk-on rally.The cryptocurrency market was flat on Monday, with several digital assets posting mixed price action.
FED JEROME POWELL CPI INFLATION ECONOMIC OUTLOOK
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