Crypto Markets Await FOMC Decision Amid Stable CPI Numbers
The August Consumer Price Index, which rose to 2.9%, didn’t stir much excitement in the crypto world. Bitcoin, along with other major coins, remained mostly flat. A slight rise in crypto market capitalization to $3.96 trillion didn’t hide the caution among investors.
Folks are now focused on the Federal Reserve’s upcoming policy meeting on September 17–18. They’re predicting a quarter-point rate cut might happen.
BLS figures from September 11 show the Consumer Price Index climbing yearly due to higher energy and food costs. The core CPI stayed at 3.1%. Though, growing jobless claims and mixed payroll data make the economy look trickier.
- Total crypto market cap increased slightly to $3.96 trillion.
- Bitcoin remained around $114,221.
- Ethereum and Ripple dipped slightly.
The Crypto Fear & Greed Index is at a “Neutral” 47. It shows investors are waiting for clarity on monetary policy.
August’s CPI report left the Fed with tough choices. Shelter,food,and gasoline prices have gone up. This impacts the expected interest rate cuts. According to CME FedWatch, there’s an 88% chance of a quarter-point cut. Traders also expect 75 basis points of easing by year-end.
