According to the Bitcoin Exchange, a total of $376.6 million was net inflowed into the U.S. Bitcoin spot ETF. This marks the seventh consecutive trading day that saw net inflows, including this day.
The CPI, which will be announced on the 11th, is likely to have an impact on future Bitcoin price trends. The CPI is a benchmark set by the Federal Reserve Board (FRB) along with employment indicators.
It is a key indicator used as a reference when deciding the direction of monetary policy, such as interest rates. There is a possibility that the Federal Open Market Committee (FOMC) will make a "baby cut" to the base interest rate of 25 basis points this month.
However, if the CPI significantly exceeds market expectations, the possibility of freezing interest rates rather than lowering them cannot be ruled out.
According to the Chicago Mercantile Exchange's (CME) FedWatch, the probability of the Fed cutting interest rates in December is 85.1%, while the Fed is freezing.
The probability is 14.9%. Meanwhile, investment sentiment towards virtual assets is in the "extreme greed" stage. The Cryptocurrency Fear and Greed Index for today was 78 points, down 1 point from the previous day.
The index is a number ranging from 0 to 100 that indicates investment demand in the cryptocurrency market. The closer it is to 100, the greater the demand.
2024/12/09 11:25 KST
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