Analysis: BTC rally cools on profit-taking ahead of key US inflation data
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Planet Daily News: Analysis suggests that after Bitcoin's price surged from $108,000 to $122,000 and then dropped below $117,000, the reason appears to be investors taking profits ahead of the U.S. June CPI data release. Bitfinex and Nansen analysts warn that inflation higher than expected might delay potential interest rate cuts and prolong the cryptocurrency pullback. Additionally, the market seems to be preparing for the June CPI data, which could impact interest rate cut expectations this year. (The Block)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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