Bitcoin Holds Strength as Key Inflation Data Approaches

The next few days will be crucial for the cryptocurrency market as key US inflation data is set to be released.

On Tuesday, May 12, the Bank of Japan will publish its latest policy meeting summary at 02:50, followed by the release of US ADP Weekly Employment Change and US inflation indicators at 15:15 and 15:30 respectively.

The annual Producer Price Index (PPI) and Core PPI are also due on Wednesday, May 13, with market expectations suggesting a possible acceleration in input costs.

Other significant releases include initial jobless claims data from the US and monthly retail sales figures, which could strengthen the case for a more hawkish Fed stance.