After the U.S. government shutdown, Bitcoin will face its first test of inflation data
Online reports that Bitcoin and the overall financial market are preparing for the release of the first inflation data after the U.S. government shutdown on October 1, and analysts expect the market to respond modestly. Consumer price index (CPI) data, originally scheduled for release on Friday, will have a key impact on the Federal Reserve's interest rate decision next week. The report comes as the U.S. economy is facing huge uncertainty: officials and economists are unable to obtain the latest labor market data due to the government shutdown. Tim Sun, senior researcher at digital asset financial services firm HashKey Group, said: "Bitcoin and the broader market are expected to respond moderately to this key macro event this week. Considering the slowdown in employment growth and the stabilization of demand, even if CPI data shows a slight rise in excess of expectations, it is unlikely to materially change market expectations." Derek Lim, director of research at cryptocurrency market maker Caladan, agrees with Sun, pointing out that if U.S. inflation data is in line with expectations and has small deviations,"the most likely outcome is a flat market response."
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