BIT: Today's US CPI release is a key variable for Bitcoin's direction

Cryptocurrency options trading platform BIT has identified today's U.S. Consumer Price Index (CPI) release as a key variable that will determine Bitcoin's next direction. The platform noted that since September of last year, market expectations for U.S. monetary policy have leaned toward tightening, limiting the crypto market's upside potential. Additionally, the market is interpreting a recent comment from Fed Governor Christopher Waller that the Fed is at an important turning point as a hawkish signal. BIT projected that if the year-over-year increase for the June CPI exceeds 4.0%, the possibility of further monetary tightening will come into focus, potentially intensifying downward pressure on BTC.