Bitcoin is trading at $25,933, up 0.66% over the last 24 hours, in the hours leading up to a release of U.S. CPI data.
Despite an earlier seesaw in crypto prices, digital assets have remained fairly stable even as economists predict a small jump in CPI growth in August compared to July.
Economists anticipate a 0.6% rise in the U.S. CPI for August, an increase from July’s 0.2%. This surge is attributed to escalating oil prices, with WTI Crude Oil nearing a 2023 peak of $89 per barrel.
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However, core CPI, is expected to slow to 4.3% in August from July’s 4.7%.
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