Bitcoin (BTC) Set For $35000, Ethereum (ETH) Above $2000 As US CPI Inflation Falls
The market forecast reveals annual CPI inflation for June fell to 3.1%, marking the 12th consecutive month of falls. It is the lowest since March 2021. Also, core CPI inflation decreased to 5% from 5.3% in May. However, the monthly CPI for June rises 0.3% against 0.1% last month. advertisement Wall Street analysts also estimated a massive fall in CPI inflation. Bloomberg, Citi, HSBC, UBS, and Nomura expect CPI at 3%, while Goldman Sachs, BMO, Barclays, Morgan Stanley, TD Securities, and CIBC estimated inflation to fall to 3.1%. Meanwhile, JPMorgan, RBC, and Visa forecasted annual CPI at 3.2%. The headline inflation falling to 3-3.2% will bring further upside move in the stocks and crypto markets. JPMorgan’s analysts said inflation is likely to fall below the consensus estimates and compel the Fed to shift to a dovish outlook. The CME FedWatch Tool shows a 90% probability of a 25 bps hike to be announced during the FOMC meeting on July 26. However, the US do...