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Bitcoin rises supported by slowing U.S. inflation despite geopolitical tensions
Bitcoin prices increased by 2.5% to reach $63,846 after U.S. inflation indicators declined in June, with the Consumer Price Index dropping by 0.4%, marking the largest monthly decrease since April 2020. Despite the slowdown in inflation, investors remain cautious due to geopolitical tensions between the United States and Iran, ongoing sell-offs in institutional Bitcoin funds, and expectations of higher interest rates in the future.
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