Bitcoin faces a crucial week as several major US economic indicators are set to be released. Producer inflation (PPI) data will be published on Thursday, with the headline index forecast to rise 0.4% month-over-month and annual producer inflation accelerating from 4.7% to 5.4%. The CPI report expected on Friday is estimated to show inflation remaining stable at around 3.3% to 3.4% annually, while rate hike odds currently exceed 50%. Bitcoin dropped $2,000 to $3,000 within hours after Fed Chair Kevin Warsh’s hawkish speech, before stabilizing around $80,000. The FOMC meeting scheduled for September 15-16 makes this week particularly decisive for the cryptocurrency’s near-term outlook.
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