Market Wrap: Bitcoin Snaps Five-Day Losing Streak; Even Traders See More Hawkish Fed
BTC fell 4.5% minutes after the U.S. consumer price index showed June inflation rising to 9.1% but has since recovered.
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BTC fell 4.5% minutes after the U.S. consumer price index showed June inflation rising to 9.1% but has since recovered.
The new Consumer Price Index (CPI) reading keeps pressure on the U.S. central bank to further tighten monetary policy aggressively at its next meeting later in July.
Bitcoin's Puell Multiple and MVRV Z-Score indicate the cryptocurrency is undervalued. Similar readings have marked bear market bottoms in the past.
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