Post Release of US CPI Data, Bitcoin and Ethereum Potentially Move Within This Range
This movement occurs ahead of the release of the Consumer Price Index (CPI) data from the United States on Tuesday. According to Panji, this data will be the main catalyst for price direction in the short term.
On the other hand, the upward trend for each crypto asset, BTC and ETH, is still maintained. However, the market is entering a wait-and-see phase as July inflation is projected to slightly rise to 2.8% year-on-year.
That figure is higher than the previous period and is the highest since February amid the pressures of import tariffs during Donald Trump's administration.
Therefore, Panji predicts that today Bitcoin has the opportunity to move in the price range of US$118,000 – $123,000. Meanwhile, Ethereum has the potential to move around US$4,150 – US$4,500.
