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Bitcoin and Ethereum Prices Rise, Market Focuses on Upcoming CPI Report
At 8:00 AM ET on August 12, Bitcoin's price rose to $64,194, and Ethereum's price increased to $1,915.50. Cryptocurrency prices found support after recent employment reports fell short of expectations, and the market widely anticipates today's CPI report to show a slight easing of inflation in July. Analysts believe these factors could prompt the Federal Reserve to scale back its interest rate hike expectations in September, thereby benefiting risk assets like Bitcoin and Ethereum.
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