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Bitcoin Pulls Back as US Inflation Data Takes Center Stage

Guavy AI Editorial Team
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BTC
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Bitcoin has pulled back to trade below $78,900 after losing 1.53% the previous day.

Analysts say the Crypto King's setup remains constructive but not yet conclusive, with US inflation data in focus.

The escalating tensions between the US and Iran are fueling concerns about energy supplies and inflation, which could weigh on Bitcoin.

According to QCP Capital, US inflation data could be the key deciding variable for crypto markets this week, with a soft inflation report potentially reopening the case for a September interest rate hold.

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