CPI Report Breakout Precedes Another Rate Cut Breakout Next Week, Traders Hope!

🏦📈 With assistance of US job reports meeting economist expectations and NASDAQ crossing above $20K for the first time in history, crypto prices are partying like it's... November again. Today's CPI report signals to traders that the US are probably set to cut rates once again next week.

Though the announcement hasn't been made official yet, experts are now estimating the likelihood of a rate cut at 96-97%. This results in a US (and potential world) economy that can flourish with little intrusion from high interest rates cutting into profits.

Crypto's close correlation with equities markets has seen an immediate positive reaction to today's news, and will likely benefit further once the rate cuts are made official next week. 👍

এটি আর্থিক পরামর্শ নয়। DYOR।