US CPI coming up, watching $USDC for stability
Thinking about the upcoming CPI data release later this week. There's been a lot of talk about persistent inflation, and any hotter-than-expected print could really swing things, especially for the dollar. I'm keeping a close eye on $USDC, which has been pretty solid around 0.9996 today, even with the intraday low at 0.99952. If we see some volatility in traditional markets after the CPI, I'm curious to see how stablecoins react. It's a good barometer for broader market sentiment and flight to safety within the crypto space, even if the moves are small.
I'm not making any big moves, just watching how price action develops around key support/resistance levels after the news. It'll be interesting to see if we get a sustained push above 1.0000 on USDC or if it continues to trade in its tight range. What are others thinking about the potential impact on stablecoins specifically?