🔥 $BTC Rockets Past $124.5K — CPI Cooldown Ignites Buyer Mania
According to the statistics provided by #Binance , #Bitcoin broke its previous record of $124,474 on Wednesday, establishing a new all-time high for the cryptocurrency.
As a result of the rise, the Consumer Price Index (CPI) for July was relatively low, which increases the likelihood that the Federal Open Market Committee (FOMC) would reduce interest rates at its next meeting in September.
The major cryptocurrency is now trading inside a rising wedge, and it has the potential to extend its run over $130,000.
On Wednesday, Bitcoin set a new all-time high, one month after it had previously established a record that was comparable to this one in July. The rise comes after a weak Consumer Price Index (CPI) index reading on Tuesday, which boosted prospects for a rate decrease at the next meeting of the Federal Open Market Committee (FOMC), which is scheduled to take place in September.
