This week, the cryptocurrency market is bracing itself for a crucial update as the US announces its Consumer Price Index (CPI) and Producer Price Index (PPI) data. The market is anticipating a significant impact on Bitcoin and altcoins, with statements from FED Chairman Jerome Powell and other FED members also being closely monitored.

According to The Kobeissi Letter, a leading commentary platform, the general expectation is that the CPI will remain high. If the CPI rises again this week, it will mark the third consecutive monthly increase. The majority of US CEOs expect the FED to cut rates just once this year, according to the April Conference Board CEO Confidence survey. The market is eagerly awaiting the release of the data, and the actual impact on Bitcoin and altcoins will only be clear once the market reacts.

The release of the US CPI and PPI data is expected to significantly influence Bitcoin and altcoins. The crypto and global markets will also closely follow the statements from FED Chairman Jerome Powell and several FED members.

Market predictions are leaning towards the CPI remaining strong in April, despite high interest rates. Inflation has stubbornly stayed above the FED's annual target of 2% in the first half of this year. FED officials indicate that it is too early to lower interest rates, pointing out that inflation is still well above the 2% target. Expectations for a FED rate cut have been decreasing since the beginning of 2024.

The thoughts of CEOs of leading US companies on the possibility of a FED rate cut were shared by The Kobeissi Letter. According to the April Conference Board CEO Confidence survey, most US CEOs expect the FED to cut rates just once this year. The market is eagerly awaiting the release of the data, and the actual impact on Bitcoin and altcoins will only be clear once the market reacts.