Bitcoin Traders Brace for CPI and 4 Other Key Events This Week

The attention has once again turned toward the US macro calendar. Here's what ahead of us. Bitcoin traders face another potentially volatile trading week as September CPI takes center stage on Wednesday, while other key events, such as producer inflation, retail sales, and fresh Fed commentary, are likely to influence the markets as well. The cryptocurrency enters the week after a major crash last Thursday, and it’s yet to recover most of the losses. Main Event CPI The Bureau of Labor Statistics is scheduled to publish the September Consumer Price Index (CPI) report on Wednesday, October 14, at 8:30 a.m. ET, and, as usual, markets will be watching both headline and core inflation closely. A hotter-than-expected reading could strengthen expectations that the US central bank will maintain a more restrictive stance, potentially pushing Treasury yields lower and the greenback higher. This, though, could put renewed pressure on BTC. A softer number, on the other hand, would likely be more supportive for risk assets, especially if it strengthens the argument that inflation is indeed cooling despite the energy crisis. CPI, though, is not the only major inflation catalyst this week, as the...