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The latest data from the US Consumer Price Index (CPI) indicates a decrease in the inflation rate for July, with a value of 2.9%, which is lower than the anticipated rate of 3%.Experts in the industry anticipate a reduction in interest rates in September, which has the potential to result in a continuous surge in the value of <a href="https://optimisus.com/news/crypto-news/a-crypto-wallet-containing-2-billion-worth-of-mt-gox-bitcoin-initiates-a-trial-transaction/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> up to the $62,000 mark.The Core CPI inflation rate has met the projected expectations of 3.2%, indicating that for the first time since March 2021, the CPI inflation rate has dropped below 3%.The significant decrease in speed enables the Federal Reserve to reduce interest rates this year, as financial analysts propose either three cuts of 25 basis points each or a single drop of 75 basis points.Nevertheless, the effectiveness of this approach relies on concrete growth data that exhibits no indications of significant deterioration. In order for both equities and <a href="https://optimisus.com/news/crypto-news/ethereum-eth-rises-over-5-to-2750-in-the-past-24-hours-indicating-a-market-upturn/https://optimisus.com/news/crypto-news/ethereum-eth-rises-over-5-to-2750-in-the-past-24-hours-indicating-a-market-upturn/" rel="noopener noreferrer nofollow">crypto</a> to have a further recovery, it is necessary to have additional positive developments about the US real economy, particularly about consumer activity.According to Bitfinex analysts, if there is a rate decrease in September, it will strengthen the positive outlook for Bitcoin and other risky assets. This would result in a continuous increase in both the cryptocurrency market and related ETFs as investors aim to take advantage of a more flexible monetary policy.With the alleviation of inflation concerns, there is a possibility of a significant increase in market liquidity as investors expect a decrease in interest rates. This, in turn, would make speculative assets more appealing. If the possibility of a decrease in interest rates becomes more concrete, it might push Bitcoin&#39;s price to a range of $64,000 to $65,000.This range has historically been influenced by short-term large-scale cryptocurrency investors. If the market interprets the CPI data as an indication for the Federal Reserve to lower interest rates, Bitcoin has the potential to surpass this resistance level, initiating a positive and upward trend.

Bitcoin eyes $62K as overall inflation falls below 3% for first time since March 2021

Optimisus

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