99Bitcoins
1 week ago
How Will Bitcoin React to CPI Data: What Does Inflation News Mean For FOMC Bitcoin Play? 📈
Inflation has a significant impact on Bitcoin's price movements as the cryptocurrency trades just below the $110,000 mark, sitting at $109,480 after momentarily surpassing that resistance earlier in the week. With the Consumer Price Index (CPI) slated for release on June 11, traders are keenly observing potential implications for Bitcoin.
The numbers could either act as a catalyst driving the price higher or bring it back down, depending on the direction they take. This attentive monitoring is crucial, as traders speculate how the Federal Open Market Committee (FOMC) might adjust their strategies in response to the inflation news.
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