BTC $83,393 
ETH $2,506 
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BNB $741.47 
XRP $1.37 
USDC $0.9997 
SOL $107.21 
TRX $0.3326 
FIGR_HELOC $1.03
ZEC $1,241 Crypto equities await US inflation reading ahead of Fed meeting
Wednesday's CPI report will guide expectations for monetary policy and test sentiment in digital asset stocks.
Key takeaways
- Inflation forecast higher. US headline CPI is expected to reach 3.7% annually, up from 3.4% in August.
- COIN at key levels. The stock closed at $180.39 Monday with resistance at $184.23 and support at $176.80.
What happened
COIN stock closed Monday at $180.39, rising 0.56% as traders positioned ahead of the US inflation report. Bitcoin traded near $83,260 and Ethereum around $2,500 during Tuesday's session. The broader crypto market retreated 0.89% to $2.8 trillion, pressured by macroeconomic concerns ahead of the data release.
Economists expect US headline CPI to climb to 3.7% annually on Wednesday, up from 3.4% in August. Core inflation, which strips out volatile food and energy costs, is forecast at 2.5%, higher than the prior 2.4%. The Bureau of Labor Statistics will publish the figures at 8:30 AM ET on Wednesday, October 14.
Why it matters
The inflation reading will guide expectations for the Federal Reserve's next policy decision at its October 27-28 meeting. Higher-than-expected inflation could signal persistent price pressures and complicate hopes for rate cuts, weighing on risk appetite and crypto equities. A softer reading, particularly in core inflation, could reduce expectations for tighter monetary policy and support sentiment in digital assets.
COIN faces technical levels that will likely be tested as traders react to the data. The stock maintains $176.80 support, with resistance at $184.23. A breakout above resistance could open the $191.78 to $192.80 zone, while a breach below support would threaten further downside.
Questions readers ask
When is the US CPI report released?
The Bureau of Labor Statistics will release the figures Wednesday, October 14, at 8:30 AM ET.
What inflation numbers are economists expecting?
Economists surveyed expect September headline inflation to reach 3.7% annually, up from 3.4% in August. Core inflation is forecast at 2.5%, up from 2.4%.
How does inflation data affect crypto stocks?
Higher inflation could prompt the Federal Reserve to maintain higher rates longer, reducing risk appetite for assets like COIN. Lower inflation could support prices by raising expectations for rate cuts, which typically benefit growth and crypto-linked equities.
Where is COIN stock trading?
COIN closed Monday at $180.39 with resistance at $184.23 and support at $176.80.
