Bitcoin has dipped below $113,000 as investors prepare for Jerome Powell's upcoming speech at the Jackson Hole conference, which may influence the US Federal Reserve's interest rate policy. This decline reflects rising apprehension in the market due to macroeconomic uncertainties surrounding Powell's remarks. Analyst Ryan Lee highlighted that if the $112,000 support level remains intact until the speech, it could create an opportunity for a potential rebound in Bitcoin's value. Investor hesitance has been exacerbated by recent data indicating a rise in the Consumer Price Index, which reduced expectations for an interest rate cut by the Fed. André Dragosch, a crypto asset manager, observed that anticipated rate cuts could be a significant driver of Bitcoin's price rally through the end of the year, encouraging further investments in the cryptocurrency market. Despite a modest decline in recent trading sessions, broader interest in Bitcoin remains robust, with many corporations still accumulating the asset.

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