Bitcoin Holds Steady Ahead of Crucial Inflation Data

The cryptocurrency market is holding its breath as inflation data and Federal Reserve decisions loom large on the horizon. Bitcoin has been trading in a tight range of $78,000 to $79,000 after slipping from recent highs near $82,000.

Meanwhile, the S&P 500 index is also consolidating, stuck between 7,700 and 7,718, representing an extremely narrow 18-point band of roughly 0.23% of total value.

The Producer Price Index will be released on September 10, followed by the Consumer Price Index on September 11, which will set the stage for the Federal Open Market Committee meeting scheduled for September 15-16.