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First Mover Asia: Bitcoin Snaps Its 4-Day Rally Tuesday; Troubles in Cryptoland? Not at Korea's Muted Mega-Blockchain Week

From coindesk.com

Bitcoin's four-day surge was nice while it lasted. The largest cryptocurrency by market capitalization was recently trading just above $23,200, down more than 2% over the past 24 hours and far removed from its temporary perch nearly $1,000 higher earlier Monday. Investors are apparently hunkered down waiting for the Wednesday morning release of July's Consumer Price Index (CPI) in the U.S. Analysts widely expect the CPI to drop to a still hefty 8.7% after hitting a four-decade high of 9.1% in June, suggesting that while inflation is slowing it remains problematic enough for the U.S. Federal Reserve to likely approve ... (full story)

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  • Category: Fundamental Analysis