Bitcoin, Ethereum Technical Analysis: BTC Hits Fresh 3-Week High, Ahead of US Inflation Report

Bitcoin, Ethereum Technical Analysis: BTC Hits Fresh 3-Week High, Ahead of US Inflation Report


Bitcoin rose for a seventh consecutive session on Tuesday, as the token moved to a three-week high. The price surge came ahead of this afternoon’s U.S. inflation report, which is expected to come in at 8.1% for August. Ethereum continued to trade lower in today’s session, as volatility remained high ahead of The Merge.

Bitcoin

Bitcoin (BTC) rose for a seventh consecutive session on Tuesday, as markets anticipated the release of the U.S. consumer price index.

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Inflation in the United States is expected to fall to 8.1% in August, following a decline to 8.5% the month prior.

Ahead of the report, BTC/USD surged to an intraday peak of $22,650.73, which is its highest point since August 19.

Looking at the chart, this recent spell of

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