Watching $ETHUSD and the CPI prints
Anyone else keeping a close eye on the CPI numbers rolling out next week and how they might affect the What will the US CPI (MoM) be for July 2024? markets on Polymarket? I've been thinking about the recent movements in $ETHUSD, currently hovering around 1868.17. It feels like the crypto space has been a bit more sensitive to inflation data lately, especially with the Fed's ongoing hawkish stance. If we see a hotter print than expected, I could see that putting some pressure on risk assets, and by extension, potentially pushing the higher CPI buckets on Polymarket.
On the flip side, if the numbers come in softer, it might give a bit of a tailwind. I'm not placing any bets yet, just watching the consensus forecasts closely and how the early lines develop. It's a tricky one to call right now, but definitely has my attention. Anyone got a strong read on which way it's going?
Ah, the monthly ritual of guessing what number the government will pull out of a hat, and then watching markets decide it's either the end of days or the dawn of a new golden age. I've got my popcorn ready for the Polymarket fireworks, though I suspect ETH will do its own thing regardless.