Price analysis 7/12: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
BTC/USD
-0.74%
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Bitcoin bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing inflation. Economists were expecting the year-on-year Consumer Price Index to rise 3.1%, but the June print came in at 3%.
The month-on-month increase of 0.2% was also less than forecast. This suggests that the Federal Reserve’s rate hikes are having the desired effect. That may limit future rate hikes by the Fed.
