EXCLUSIVE: Bitcoin Down To $59,200, But July CPI Report Is 'Bullish For Bitcoin,' Will Stabilize Crypto Market, Experts Tell Benzinga
Portfolio Pulse from Murtuza Merchant
The latest CPI report shows inflation rising as expected, which may lead to Federal Reserve rate cuts. Experts believe this is bullish for Bitcoin and could stabilize the crypto market. Bitcoin is currently down to $59,200.
August 14, 2024 | 6:14 pm
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The latest CPI report indicates stable inflation, which may lead to Federal Reserve rate cuts. Experts believe this is bullish for Bitcoin, despite its current price drop to $59,200.
The CPI report met expectations, suggesting stable inflation. This increases the likelihood of Federal Reserve rate cuts, which is seen as positive for Bitcoin. Despite the current price drop, experts are optimistic about Bitcoin's short-term outlook.
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