Bitcoin circles $20K pre CPI amid warning Fed risks ‘blowing up’ economy
"Highly elevated" CPI numbers due in hours as one theory suggests that there is already no more room for Fed rate hikes. Bitcoin (BTC) rebounded from overnight lows on July 13 as Markets nervously waited for United States Inflation data. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Countdown to “highly elevated” inflation reveal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing from $19,250 to $19,900 at the time of writing, up 3.3% on the day. With three hours to go until the release of Consumer Price Index (CPI) data for June, crypto markets showed little sign of advance volatility. Previously, the U.S. government had warned that the CPI figures were expected to be “highly elevated,” with unofficial projections from other sources indicating a year-on-year inflation increase of nearly 9%. NEW #inflation record high on the year! At least that's what I'm now forecasting for June CPI, released in 5 days I forecast 8.8% year over...