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Bitcoin Stands Ground Ahead of Critical CPI Report

Guavy AI Editorial Team
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BTC OM
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The Bitcoin price is currently holding steady in the $76,500-$77,000 support zone, but this level of support is becoming increasingly fragile ahead of Friday's CPI report. The inflation forecast stands at 3.4%, and higher average oil prices in August could increase the risk of a hotter reading.

A stronger-than-expected CPI could add pressure on the Federal Reserve ahead of next Wednesday's FOMC meeting, which may have significant implications for Bitcoin's price action.

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