US CPI Report Expected Today as Analysts Anticipate Easing Inflation

Market analysts are anticipating the US Consumer Price Index (CPI) data release on February 12, which may influence cryptocurrency prices. Key points include:

• Analysts project a 0.3% month-on-month increase in the CPI for January, slightly below December's 0.4%. Year-on-year inflation is expected to hold steady at 2.9%.
• Core inflation figures show a monthly jump to 0.3% from 0.2%, with an annualized rate of 3.1%, down from 3.2% in December.
• Federal Reserve Chair Jerome Powell indicated that interest rates will remain high despite inflation trends.
• BlackRock warns that persistent inflation in services may prevent any cuts in interest rates.

Market Outlook for Bitcoin and Altcoins

• Some analysts believe Bitcoin and altcoins may recover following the CPI data.
• Crypto analyst Daan Crypto Trades notes Bitcoin is consolidating above its bull market support band, with no signs of a market top.
• Miles Deutscher reports increased accumulation by Bitcoin whales, indicating strong interest from large holders.
• The altcoin market is described as uncertain, with potential for aggressive investment if the market shifts towards "Bitcoin Season."

Source: Daan Crypto Trades

Source: Miles Deutscher