Bitcoin’s price forecast for August – A new ATH may be next, but CPI week is key!
Key Takeaways
Bitcoin has been consolidating ahead of the release of major U.S economic data, with CPI, PPI, and retail sales likely to influence Fed policy. Rising leverage could allude to bullish momentum, but it might also raise the risk of sharp pullbacks if macro data disappoints.
Bitcoin [BTC] has been in a holding pattern lately, with traders bracing for a wave of U.S. economic data this week. Inflation figures, in particular, could set the tone for the Federal Reserve’s next rate move and it could decide whether there will be a new Bitcoin ATH or not.