Market Wrap: Bitcoin Prices Pull Back Ahead of US Inflation Report

Ten-year Treasury yield daily close: 2.80%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atMarkets on Tuesday were focusing on release of the July CPI, which will show whether ongoing efforts to reduce inflation are working.

The CME FedWatch tool, which measures the probability and likely extent of future rate hikes, now shows a 70% probability of another 75 basis point rate increase, which would match the last rate hike announced in June.Should the inflation rate fall below forecasts, the prospects for a 75 basis point increase will likely decline and crypto markets will respond positively.

The spread between the two-year and 10-year Treasury notes contextualizes how investors are pricing lending risk. Currently the spread implies that traders require greater compensation to lend money for two years than they do to lend money for 10 years, which indicates a lack of confidence in short-term economic conditions.From a technical perspective, BTC fell below its trendline on Tuesday. It will be important for traders to see if it reclaims the trendline.

The VPVR tool measures levels of activity at specific price levels. The data can show investors where price agreement occurs, indicating support and/or resistance.

GWilliamsJr_CMT JimmyHe32 Great, another opportunity to spend usdt to buy cheap bitcoin

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