The most important date for bitcoin in December has been announced

The cryptocurrency market continues to struggle with the consequences of the FTX crash — as industry experts note, bitcoin’s volatility has dropped significantly, as traders are not taking any risks to take active action. However, two macroeconomic events will take place next week that could affect the situation with BTC $60,780.47 Bitcoin -1.42% Market capitalization $1.2 trillion VOL. 24 hours $1.44 billion and other digital assets.

On December 13, the Consumer Price Index (CPI) data will be published and the Fed will hold a regular meeting, which may result in a refinancing rate increase. According to analysts, the results of these events will significantly affect the dynamics of the flagship cryptocurrency.

If the CPI data is high, it will put additional pressure on bitcoin. In May 2022, inflation was the highest in the last 40 years. As a result, bitcoin sales rose sharply, causing a loss of $ 15 billion in market capitalization in the first few hours after the data was published. If inflation declines, the BTC will receive the necessary impetus for local growth.

According to CryptoCompare, in the second half of this year, ethereum outpaced bitcoin in terms of market growth. Over the past six months, ETH has recorded a 22.4% gain, while BTC has lost 10.8%. After the FTX crash, investors and crypto companies suffered multibillion-dollar losses, and the gap in yields between bitcoin and ethereum became the largest in 2022. Digital asset holders initiated a massive wave of sales in the market, which is why BTC lost about 16.3% of its value in November. This was the worst monthly performance since June 2022.