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Analysis: BTC Rally Cools as Profit-Taking Occurs Ahead of Key US Inflation Data Release

Summary: According to reports, analysts believe that after Bitcoin's price surged from $108,000 to $122,000, then dropped below $117,000, investors seemed to be taking profits ahead of the release of US June CPI data. Bitfinex and Nansen analysts warned that higher-than-expected inflation could delay potential rate cuts and prolong the cryptocurrency pullback. Additionally, the market appears ...

According to reports, analysts believe that after Bitcoin's price surged from $108,000 to $122,000, then dropped below $117,000, investors seemed to be taking profits ahead of the release of US June CPI data. Bitfinex and Nansen analysts warned that higher-than-expected inflation could delay potential rate cuts and prolong the cryptocurrency pullback. Additionally, the market appears to be preparing for June CPI data, which could impact expectations for rate cuts this year. (The Block)

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