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Bitcoin Traders Reduce Bullish Bets Ahead of U.S. Inflation Data Release

Bitcoin Traders Reduce Bullish Bets Ahead of U.S. Inflation Data Release
Bitcoin traders are scaling back their bullish positions as the market braces for the release of U.S. inflation data. The upcoming Consumer Price Index (CPI) report is expected to influence the Federal Reserve's monetary policy decisions, creating uncertainty in the cryptocurrency market. Many traders are opting to lock in profits or reduce exposure to Bitcoin (BTC) and other digital assets until the inflation figures provide clearer direction. The cautious sentiment reflects broader market anxiety over potential interest rate hikes and their impact on risk assets like cryptocurrencies.
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