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<ul class="news-points">
 <li>Bitcoin faces challenges in early July due to delayed ETFs and sell-offs.</li>
 <li>CPI data release on July 11 could trigger a Bitcoin price rebound if inflation falls.</li>
 <li>Bitcoin appears oversold, but market sentiment remains cautious.</li>
</ul>
The start of July has brought unexpected challenges to Bitcoin and the broader cryptocurrency market, deviating from earlier bullish expectations. Events such as the <a href="https://coinedition.com/ethereum-spot-etf-approval-could-spark-eth-price-rebound-says-matrixport/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">delayed launch</a> of spot Ethereum ETFs on July 2nd and reports of substantial BTC sell-offs by the U.S. and German governments have dampened market sentiment. However, a potential turnaround may be on the horizon as the market focuses on upcoming CPI data expected on July 11.
Crypto analyst CrypNuevo, sharing his insights on social media, highlighted the pivotal role of the CPI data in shaping Bitcoin’s near-term trajectory. He anticipates a possible rate cut based on the upcoming CPI figures and suggests that lower inflation numbers could prompt the Federal Reserve to lower interest rates. Historically, such monetary policy shifts have proven beneficial for Bitcoin prices.
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 We could then see first a drop to fill at least the 50% of the wick. It's likely to see a bounce from …
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The post <a href="https://coinedition.com/bitcoins-july-blues-can-cpi-data-spark-a-rebound/" rel="noopener noreferrer nofollow">Bitcoin’s July Blues: Can CPI Data Spark a Rebound?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin’s July Blues: Can CPI Data Spark a Rebound?

Coin Edition

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