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Bitcoin consolidates below $29,500 as traders await SEC decisions on ETF applications
CPI day came and went with little reaction from the crypto market as Bitcoin (BTC) continues to trade sideways below $29,800 while the majority of altcoins in the top 200 traded within 3% of Wednesday’s prices. Stocks initially responded positively to the CPI report, which showed that while inflation slightly reaccelerated in July, coming in at 3.2% as compared to June’s reading of 3%, prices rose at their slowest pace since October 2021, which suggests that the Federal Reserve’s fight against inflation appears to be headed in the right direction. But the post-CPI momentum faded as the trading day progressed, ... (full story)