Bitcoin's value is currently above $30,000 as the crypto market consolidates. The release of the US Consumer Price Index (CPI) will guide the Federal Reserve's next move, but analysts are divided on how Bitcoin will react to the expected 3% inflation rate. If Bitcoin surpasses the rectangle resistance, there is potential for a bullish breakout to $33,000.
Temasek, a major investment firm, has stopped its cryptocurrency efforts due to regulatory uncertainty, while the US Senate Committee is requesting input from investors on cryptocurrency taxes with a deadline approaching. FTX, a cryptocurrency exchange, has launched a claim portal for creditors.
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