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Bitcoin’s Short-Term Rally: How CPI and Ethereum ETFs Could Impact the Market Coinpedia 09 Jul 2024

Bitcoin’s Short-Term Rally: How CPI and Ethereum ETFs Could Impact the Market 📈

Bitcoin has reached an initial downside target of $55,000, indicating an oversold market and a forthcoming short-term countertrend rally. This rally is supported by macroeconomic factors, including the Consumer Price Index (CPI), and the potential approval of an Ethereum ETF by the SEC. However, 10x Research cautions that Bitcoin is not a significant mid-term buying opportunity.

Source: coinpedia.org ↗

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