CoinShares said the latest CPI print was not particularly helpful for Bitcoin. Headline inflation was broadly in line with expectations, while core inflation came in slightly above forecasts, raising the probability of a September rate hike and the risk that monetary policy remains restrictive for longer. With no dovish catalyst from CPI, Bitcoin’s near-term upside is likely to remain constrained, and a move above $80,000 may require weaker economic data, a more dovish Fed, or another policy catalyst.