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BTC Core Points
U.S. Consumer Price Index (CPI) expectations may affect the Federal Reserve's interest rate decisions and Bitcoin market sentiment.
Bitcoin is currently trading at US$83,044, and traders are waiting for it to recover to the US$85,000 mark.
Producer Price Index (PPI) inflation data and retail sales data will test the outlook for U.S. price pressures.
Bitcoin price forecasts faced another test this week as the U.S. inflation report approached. Traders will evaluate consumer and producer price data ahead of the Federal Reserve's policy meeting on October 27 - 28.
Bitcoin (BTC) has recently fluctuated around US$83,000, following previous efforts to maintain the recovery momentum but failed to sustain it. CoinMarketCap data shows that as of October 10, the price of the cryptocurrency was US$82,912.23, below the threshold of US$85,000.
Upcoming data may affect government bond yields, interest rate expectations and demand for risky assets. However, inflation data alone cannot determine the next price trend of Bitcoin.
U.S. CPI report may change sentiment in the Bitcoin market
The U.S. Bureau of Labor Statistics will release the September consumer price index (CPI) at 8:30 a.m. Eastern Time on Wednesday, October 14. 
U.S. CPI and PPI inflation data expected to be released next week/Source: X Markets#
Markets expect headline inflation to reach an annualized rate of about 3.7%, while core inflation could rise to 2.5%. In August, the overall CPI increased by 0.4% month-on-month and 3.4% year-on-year.
Energy prices were one of the main factors behind price increases in August, with gasoline prices rising 3.9% month-on-month. During the same period, core CPI excluding food and energy increased by 2.4% year-on-year.
The latest U.S. CPI data may change market expectations for the Federal Reserve's October 27 - 28 meeting. The Federal Reserve raised interest rates by 25 basis points in September, bringing its target range to 3.75%-4.00%.
Given slowing employment growth and weakening inflation indicators, the market generally expects the Federal Reserve to suspend interest rates in October.
However, if headline inflation data and core inflation data are higher than expected, expectations of another rate hike could be increased. Conversely, lower inflation data will strengthen the possibility of policymakers leaving interest rates unchanged.
PPI Inflation and retail sales exacerbate economic uncertainty
September's producer price index (PPI) will be released on Thursday, October 15, as well as retail sales data and weekly initial jobless claims. Following the release of consumer inflation data, the PPI inflation report will further demonstrate corporate cost pressures.
In August, final demand producer prices increased by 0.4% month-on-month and 5.4% year-on-year. Commodity prices rose 1.1% month-on-month, indicating continued pressure on producer prices.
However, investors will be concerned about whether raw material, transportation and service costs will continue to pass through to consumer prices.
In addition, strong retail sales and higher inflation may drive demand for tighter monetary policy. However, a decline in consumer spending combined with lower inflation could shift the focus to household purchasing power and the state of the economy.
美联储最新发布的《褐皮书》定于星期三发布，将提供有关消费、招聘、工资、商业投资和价格的更多地区性信息。
比特币瞄准85,000美元，交易者监控抛压
在经济数据发布前，通往85,000美元的路径仍是市场关注的焦点。然而，价格数据显示该加密货币为83,044.41美元，低于这一水平。
比特币社区账号“Bitcoin Hopium”将比特币的价格走势与2023年牛市早期阶段进行了比较。该账号还指出，美国长期债券销售的潜在减少可能是影响收益率和加密货币需求的一个因素。
与此同时，The Crypto Johannes警告称，比特币反弹突破85,000美元已将其“卖方耗尽”指标推入此前与局部市场顶部相关的区域。该账号暗示随后可能出现回调。
随着周三的美国CPI数据和周四的PPI通胀数据接踵而至，交易者将面临两次备受关注的通胀前景测试。
这些报告将提供新鲜数据，帮助市场评估美联储的下一步政策决策以及比特币恢复至85,000美元的前景。
本文仅供参考，不构成财务或投资建议。
