The United States central bank is anticipated to keep interest rates steady at its upcoming policy meeting on June 12, following the release of robust jobs data for May. This decision would mark the seventh consecutive meeting with rates within the 5.25% to 5.5% range. Policymakers are also reassessing the number of rate cuts planned for the year, taking into account various economic indicators. Additionally, the core consumer price index (CPI) reports will be released on June 12, which significantly influences the Federal Reserve's monetary policy decisions.

The CPI figure is expected to remain at 3.4% year-on-year, indicating that the central bank will likely maintain interest rates. Historically, there has been a strong correlation between Bitcoin price and CPI data, with higher-than-expected CPI negatively impacting the digital asset and lower-than-expected CPI having a positive effect. Other key events this week include the release of the OPEC Monthly Report, May PPI inflation data, and MI Consumer Sentiment data.

The core producer price index (PPI) reports, which measure the average change in selling prices received by domestic producers of goods and services, will be released on June 13. Analysts predict the first rate cut to occur at the central bank's September policy meeting, just before the November presidential election. The Fed rate decision is likely already priced into crypto markets, leading to potential mid-week volatility but overall sideways momentum. Altcoins may struggle as Bitcoin dominance remains high, delaying the onset of the altseason.

The market is currently in a state of confusion, according to crypto trader 'Emperor', who shared his thoughts with his 390,000 followers on June 9. As the central bank weighs various economic data, the crypto market is likely to experience continued uncertainty. Despite this, the upcoming events and data releases may provide some clarity on the direction of interest rates and their impact on the crypto market.

Overall, the central bank's decision to maintain interest rates is expected to have a ripple effect on the crypto market, with potential implications for Bitcoin and altcoin prices. As the market navigates this uncertainty, traders and investors are advised to exercise caution and stay informed about the latest developments in both the traditional and crypto markets.