Bitcoin is heading into a potentially important week for its price outlook, with upcoming U.S. inflation data and the Federal Reserve’s September policy decision in focus. Cointelegraph reports that this week’s consumer price index (CPI) and producer price index (PPI) releases could influence market expectations for interest rates. Those expectations are already tilting toward a rate hike in September. The Federal Reserve is scheduled to announce its decision on Sept. 16. Together, the inflation readings and the policy announcement may help determine whether Bitcoin can establish $80,000 as a support level. Market participants are therefore watching the data and the Fed’s decision for signals that could shape Bitcoin’s near-term trading conditions.
Source
Cointelegraph
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