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web3: Before the announcement of CPI, Bitcoin holds above the $76,500 support level
CoinPedia
4h ago
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Coinpedia reports that Bitcoin remained within a support range of $76,500 to $77,000 before the release of CPI data, with the market focusing on the impact of inflation figures on the Federal Reserve's expectations.
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Bitcoin continued to hold within the range of $76,500 to $77,000 in the United States before the release of the CPI data, but this support level is becoming fragile. The market is currently focusing on whether inflation figures will exceed expectations and whether this will affect the subsequent statements from the Federal Reserve.

CPI Prior Market Focus

The U.S. is expected to see a growth rate of 3.4% in CPI of August. Reports mention that higher average oil prices in August may increase the risk of inflation readings being on the high side. If the data exceeds expectations, pressure on the Federal Reserve could rise.

Key ranges of Bitcoin

Currently, BTC is still trading in the range of $76,500 to $77,000. If it falls below $76,500, the next support level could be around $72,000 to $74,000.

  • Current support: $76,500–$77,000
  • Follow below: $72,000–$74,000
  • Event windows: Friday CPI, next Wednesday FOMC
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