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U.S. CPI Preview: Bitcoin $115K Bets In Demand as Downside Fear Grips Market Ahead of U.S. CPI Report
The report, due at 12:30 UTC, is expected to show that the headline consumer price index (CPI) increased 2.8% year-on-year in July, up from a 2.7% rise in June, according to Bloomberg data.
On a monthly basis, prices are forecast to increase 0.2%, a slight decline from July's 0.3%. The core CPI, which excludes the volatile food and energy component, is likely to have risen 0.3% in July following a 0.2% rise in June.
According to analysts, a hotter-than-expected CPI could dampen Fed rate cuts, potentially weighing on risk assets, including BTC.
'The market's immediate focus is on Tuesday's U.S. CPI print, with the market expecting a modest uptick to 2.8% YoY. A softer reading would likely cement a September rate cut by the Federal Reserve, a positive for risk assets. Conversely, a hotter print could stall the rally, triggering tactical profit-taking across risk assets," Timothy Misir, head of research at BRN, told CoinDesk in an email.
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