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US STOCKS REBOUND: WILL BITCOIN FOLLOW WITH A LATE SUMMER BREAKOUT?
#Nasdaq #CPI $BTC

US stocks are rebounding strongly after last week’s sharp decline caused by the Japanese yen carry trade unwind. While challenges remain, a positive Consumer Price Index (CPI) report expected today could boost the rally, possibly lifting Bitcoin (BTC) as well.

Market Recovery After Sharp Drop
Last week, the US stock market plunged due to fears of an impending recession, with the S&P 500 dropping 8% and the Nasdaq falling over 10%. Leading stocks like Nvidia (NVDA) saw significant losses. However, signs of recovery appeared by the end of that Monday, and the market has been trending upward since. Favorable CPI data could restore stock levels to pre-crash highs by week’s end.

Nasdaq and Bitcoin on the Rise?
The Nasdaq 100 could break its downtrend today if it surpasses $19,535, potentially leading to new highs and positively impacting the crypto market. Bitcoin is also showing recovery, up 24% from recent lows. It faces resistance at $61,000 and $62,000, with targets at $63,000 and $65,000.

Potential for a Bitcoin Breakout
If annual core inflation drops to 3.2%, the likelihood of the Federal Reserve cutting interest rates in September increases. With growing global liquidity, Bitcoin could see a late summer breakout.