Bitcoin Price Drops Below $37K as Markets Brace for Key Inflation Data
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Bitcoin price fell below $37,000 on Monday as markets await US inflation data that could impact price.
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Over the weekend, 30,000 BTC worth $1.1 billion were deposited to exchanges, suggesting some investors may sell.
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Bitcoin demand from institutions has slowed recently, with whale transactions declining ahead of inflation data.
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If inflation exceeds expectations, Bitcoin may drop further, with $35,000 a key support level to watch.
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Bulls need to reclaim $38,000 to regain control, but 1.2M BTC holders at that price may pose resistance.