Bitcoin reaches new August high ahead of US inflation reports
Bitcoin spiked to a new August high into Sunday’s weekly close as market participants turned their attention to the next US inflation reports.
The July prints of the Consumer Price Index (CPI) and Producer Price Index (PPI) will be released on Wednesday and Thursday, respectively.
The area around $65,800 is seen as crucial for bulls after BTC/USD hits new month-to-date highs, with traders weighing the impact of US inflation data on Federal Reserve interest-rate policy.