The Consumer Price Index (CPI) for March will be announced on April 12, 2023, at 8.30 a.m. Eastern Time.
Crypto investors will closely monitor significant U.S. economic indicators, such as the U.S. Consumer Price Index (CPI), Producer Price Index (PPI), and jobless claims, for insights into the Federal Reserve's policy decision slated for May 2-3. Investors are anticipating that positive developments in these indicators will continue to drive Bitcoin's 70% rally this year.
Experts predict that the US CPI will continue to decrease, following the Federal Reserve's indication last month that it would consider easing monetary policy. On April 12, data is expected to be published, expecting a CPI increase of 0.3%.
Although the core US CPI reached a five-month high, data from February suggested that the US inflation was decreasing. In March, CPI increased by 0.4%, with housing costs accounting for 70% of the increase. Experts expect the trend to continue.
The Fed's Open Markets Committee meeting minutes from March 21-22 will be released on April 13. These minutes could provide insights into the factors that led to the 25 basis points increase in interest rates at the March meeting, as well as the Fed's next move. It is anticipated that Bitcoin will show some volatility following the publication.