Bitcoin hugs $29.5K into CPI as odds split over new US inflation spike

Bitcoin (BTC) hovered near $29,500 on Aug. 10 as markets braced for a fresh United States Consumer Price Index (CPI) print.BTC/ USD 1-hour chart. Source: TradingViewTrader alerts of Bitcoin “disadvantage” despite CPI volatilityData from Cointelegraph Markets Pro and TradingView revealed BTC price action supporting in the run-up to the CPI release– itself a classic volatility catalyst.CPI is one of the crucial components for the Federal Reserve when choosing interest rate policy. Michaël van de Poppe, founder and CEO of trading firm Eight, queried in part of an X post on the topic.Van de Poppe noted that there appeared to be a chance that CPI might rise, something which would pressure risk possessions, consisting of crypto, which favor looser Fed policy.JPMorgan Chase was among those caution of a re-acceleration in CPI worths.

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Bitcoin (BTC) hovered near $29,500 on Aug. 10 as markets braced for a fresh United States Consumer Price Index (CPI) print.BTC/ USD 1-hour chart. Source: TradingViewTrader alerts of Bitcoin “disadvantage” in spite of CPI volatilityData from Cointelegraph Markets Pro and TradingView showed BTC price action supporting in the run-up to the CPI release– itself a traditional volatility catalyst.CPI is one of the essential aspects for the Federal Reserve when choosing interest rate policy. Michaël van de Poppe, founder and CEO of trading company Eight, queried in part of an X post on the topic.Van de Poppe noted that there appeared to be a possibility that CPI could increase, something which would press risk assets, including crypto, which prefer looser Fed policy.JPMorgan Chase was amongst those caution of a re-acceleration in CPI values.