Will U.S. CPI Data Help Bitcoin (BTC) Price Break This Key Resistance?

The modest crypto and stock market rally to start the new year will be put to test on Thursday when investors face the highly-anticipated U.S. inflation data. The CPI reading could very well play a role in determining the magnitude of the next interest rate increase that the Federal Reserve decides to implement. It is anticipated that the Consumer Price Index (CPI) reading, which will be released on January 12, would lend credence to the argument that inflation is fading, hence providing a potential opening for riskier assets, like Bitcoin.