Market anticipates cooling inflation, U.S. stocks and cryptocurrencies rise together; contrasting Litecoin's past halving trends

In a market where inflation is expected to cool down, the four major US stock indices and cryptocurrencies have all risen, making Jim Cramer, who made one-third of the posts pessimistic about the crypto market, a contrarian indicator again; in addition to the significant rise of AVAX, Litecoin, which is approaching its halving year, is also attracting attention, as LTC has historically risen in the months leading up to a halving event.

U.S. Stocks and Cryptocurrencies Rise Together

The highly anticipated Consumer Price Index (CPI) for December is set to be released on 1/12. Market expectations of 6.5% are lower than the previous 7.1%, and the expected Core CPI of 5.7% has also slightly decreased. With market expectations of a possible cooling inflation, both the four major U.S. stock indices and cryptocurrencies have seen gains.

The public blockchain Avalanche Protocol (AVAX) announced a partnership with Amazon Web Services (AWS), enabling support for Avalanche's infrastructure and dApp ecosystem, including functions such as subnet deployment and one-click node deployment. It topped the 24-hour growth rankings.

Avalanche Partners with AWS, AVAX Rises 30%! CEO: It's a Substantial Partnership, No Money Exchanged

Bitcoin and Ethereum Return to November Levels

Furthermore, BTC and ETH have respectively surpassed $18,000 and $1,400, returning to levels around November 9th of last year.

Jim Cramer's prediction once again serves as a contrarian indicator. He claimed that 2023 would be a year of continued decline in the crypto market. However, since his statement on 1/3, the total market value of cryptocurrencies has increased by 10%, about $889.6 billion, a growth of $81 billion.

As i predict another weak year for crypto, i do ponder how many people are still involved, now many millions of people….

— Jim Cramer (@jimcramer) January 2, 2023

Litecoin Halving in August

Litecoin is scheduled to halve around block height 2,520,000, approximately on August 14th this year, with 214 days remaining.

According to TradingView data, Litecoin saw a 72% and 119% increase in the first eight months after the past two halvings.

Unlike the previous two halvings, the global economic situation is completely different this time. Whether the crypto market has fully absorbed the aftershocks of FTX, DCG, and Genesis, and whether Litecoin's expected halving increase will be put to the test, remains to be seen.