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Bitcoin and Ethereum prices retreated, with Bitcoin down 0.2% to $77,941.56 and Ethereum down 0.7% to $2,464.92, as the market focuses on inflation data.
As of 7:19 AM ET, Bitcoin's price fell to $77,941.56, down 0.2% from Wednesday's opening price; Ethereum's price dropped to $2,464.92, down 0.7% from Wednesday's opening price. Both cryptocurrencies hit new weekly lows, as the market awaits today's Producer Price Index (PPI) and tomorrow's Consumer Price Index (CPI) data, as well as the Federal Reserve's interest rate meeting starting next Tuesday. According to the CME FedWatch Tool, the probability of the Federal Reserve raising interest rates next week is 62.2%.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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