With the latest US CPI data rising higher than expected, the cryptocurrency market has been stirred. For Bitcoin (BTC), in the short term, this might lead to increased market volatility. The rising CPI could potentially prompt the Fed to take more hawkish measures, which may put downward pressure on BTC prices. Analyzing technical indicators, if the Moving Average Convergence Divergence (MACD) shows a bearish crossover and the Relative Strength Index (RSI) is approaching the oversold zone, it could indicate a potential price decline in the coming week. However, BTC's status as a hedge asset might also attract some investors seeking refuge, making the price trend uncertain. In conclusion, while the fundamental factor of CPI is bearish, the technical signals need to be closely monitored to predict BTC's price movement in the next week accurately.
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