Soft CPI Sends Bitcoin Higher, Traders Cautious

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BTC price action returned to $64,000 on low US CPI inflation but traders stayed wary of rejection at key resistance.

Bitcoin (BTC) spiked past $64,000 into Tuesday’s Wall Street open as US inflation saw a surprise sudden downturn.

Bitcoin returns to near the top of its local trading range on US inflation data.

The biggest drop in CPI since April 2020 boosts crypto and risk assets.
Traders remain in wait-and-see mode over whether local resistance will break.

BTC/USD gaining more than 2% on the day as the June print of the Consumer Price Index (CPI) came in below expectations.

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