These 5 Cryptocurrencies May Boost Post U.S.CPI Data

The U.S. Bureau of Labor Statistics will release the Consumer Price Index data for January today. The inflation rate is expected slow down to 6.2%, the lowest level since October 2022. The inflation rate excluding food and energy will fall to 5.4% from 5.7%. This will allow the U.S. Federal Reserve (USF Reserve) to set the repo rates.
December’s CPI data showed a slowing inflation. Therefore, the FED slowed down the rate hike by 25bps. A decrease in the FED rate rise and cooling inflation will eventually push more investors to the market.


These cryptocurrency are expected to have a positive effect due to the low inflation expectations. Below are the 5 cryptocurrencies we expect to boom according to our research:
Disclaimer: This article does not contain financial advice. It is a team’s prediction and analysis. Please research carefully and invest at your own risk.
1. Polygon (MATIC).
Since December’s U.S. CPI data, which showed an inflation rate of 6.5% from 7.1%, the Polygon price has been rising. It has risen by 21.47% over the past 30 days. Each MATIC token now trades for 1.18 USD. The token has risen by 0.97% in the last 24 hours ahead of CPI data. However, the trading volume has fallen by 32.59%. This token could see a huge jump if the inflation rate rises. Source: coinmarketcap
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2. ImmutableX (IMX).
IMX is another token that can trade positively. The ImmutableX price increased by 73.97% over the past 30 days. The positive market conditions created by low inflation data could push the token further. The IMX token has been rising since the beginning of the year. It currently trades at 0.9603 USD. This is a rise of 1.39% in 24 hours. It has risen to as high as 1.19 USD in the last month.

Source: coinmarketcap
Also see: Wall Street Estimates on US CPI Inflation Data. Will Crypto Prices Recover?
3. SingularityNET (AGIX).
Since the last CPI data was made public, AGIX, the AI token, has increased by an incredible 135.16%. As of writing, the token is trading at 0.4136 USD and has risen by 10.79% in the past 24 hours. Source: coinmarketcap
4. Bitcoin (BTC).


The world’s biggest cryptocurrency trades in green ahead of the release CPI data. The token has risen by 0.69% over the past 24 hours, and each BTC token trades for 21,844 USD. Bitcoin price has rallied for the majority of the past month, crossing the resistance mark at 23k in the last 30 days. It has risen by 5.50% over the past 30 days. The coin has fallen to 21k in the last week, however. Source: coinmarketcap
5. Ethereum (ETH).
If inflation data suggests a cooling trend, the world’s second largest crypto Ethereum could also see a boost. The Ethereum price has fallen slightly by 1.41% over the past 30 days. However, it crossed the resistance mark of 1.66k in January. As the predictions suggest that inflation will cool, the cryptocurrency is up 1.27% ahead CPI data release. Source: coinmarketcap
Also read: Bitcoin Price Supposed to Hit $25K after US CPI Data. Here’s Why

About the author

The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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