Dynamics Finance-Foreign exchange broker Oanda: If U.S. inflation eases, Bitcoin may rise

 According to Dmfnclcd, foreign exchange broker Oanda believes that if Wednesday's CPI data showed that inflation in the United States eased in July, Bitcoin may rise.

Craig Erlam, an Oanda analyst, said that the weakening of inflation data may be a catalyst for Bitcoin to exceed $25,000 per piece, and once again locked its target in the range of 28,000 to $32,000 per piece. Bitcoin prices have not been traded in this range since the beginning of this summer.

Dmfnclcd pointed out that considering that the core inflation rate is expected to rise, it will be difficult for the Federal Reserve to raise interest rates by less than 75 basis points if overall inflation does not slow down.

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