Bullish traders are eyeing the upcoming U.S. July Consumer Price Index report for signs of continued inflation trends, with expectations set at a 0.2% monthly increase and a 3.3% year-over-year growth. In the backdrop is the Federal Reserve’s historical monetary tightening and subsequent market anticipation of rate cuts, which have historically been intertwined with bitcoin’s recent price fluctuations.
Source: https://www.coindesk.com/markets/2023/08/08/first-mover-asia-what-will-make-bitcoin-reach-30k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines