Key Economic Data, Fed Meeting Could Impact Fragile Crypto Markets This Week
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This week has several major economic events, including CPI data, PPI data, a Fed policy meeting, and more. These could impact crypto markets.
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Bitcoin has already started retreating quickly, dropping over 3% to under $42,400. Analysts predicted a correction in frothy crypto markets.
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The Fed policy meeting on Wednesday will give insight into interest rate outlooks and inflation projections. Markets will watch for signals on future rate hikes.
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Thursday brings important retail sales data and jobless claims reports, which provide economic health indicators.
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Overall, it's a busy week for economic news that could spur further crypto market declines if the data disappoints.