Disappointing low employment numbers in July raised expectations that the Fed would scale back rate hike plans. Analysts believe inflation conditions eased slightly from June to July, supporting the dovish case.
Crypto's rally rests on shaky ground. The August CPI print will tell us if inflation really cooled or if July's jobs miss was a one-off fluke. A hot inflation number ends the rate-cut dream.
Traders are scaling back September rate hike expectations, but the full picture depends on August inflation data. Crypto remains range-bound: $64K resistance above, $60K support below.
August CPI arrives mid-month. If inflation cools, expect crypto to extend gains. If it accelerates, the rally could reverse fast. This is the moment crypto traders are waiting for.
Ethereum and other altcoins are outperforming Bitcoin slightly, hinting at an altseason narrative. If Bitcoin holds $64K, expect altcoins to accelerate further on Fed relief.
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