The cryptocurrency market is on edge as it awaits the release of the U.S. September Consumer Price Index (CPI) data, expected to show an annualized inflation rate of 3.1%. This report comes amid a government shutdown, adding to market uncertainty. Analysts anticipate significant volatility across major cryptocurrencies, with Ethereum's volatility projected at 2.9%, surpassing Bitcoin's 1.4%. XRP and Solana are expected to experience even higher volatility at 4.7% and 4%, respectively.
While the CPI data is not expected to alter the Federal Reserve's plans for rate cuts, a higher-than-expected inflation rate could strengthen the U.S. dollar. Conversely, a lower CPI reading might enhance risk appetite among investors, potentially impacting cryptocurrency prices.
Crypto Market Braces for Volatility Following U.S. CPI Report
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