Crypto Markets Under Pressure from Anticipated US CPI Inflation Data

The US stock market and global crypto market are facing renewed selling pressure due to expectations of higher-than-expected US CPI inflation data.

Major banks such as JPMorgan, Morgan Stanley, and Citigroup warn that a higher inflation reading could reinforce a 'higher for longer' Fed rate environment.

This development has raised concerns about the price drop of Bitcoin, Ethereum, and XRP, which have been experiencing volatility in recent times.