Bitcoin stuck near $64K as cool PPI gives markets reliefBitcoin is still moving like it’s waiting for someone else to make the first move. BTC bounced slightly from weekly lows and traded near $63.9K after July PPI came in cooler than expected.
The data helped stocks, but Bitcoin didn’t explode. It just avoided another leg down.
What it means:— July PPI stayed at 0.2% month-on-month.
— Year-on-year PPI came in at 4.7%, below the expected 4.9%.
— Falling gasoline and energy prices gave the biggest relief.
— S&P 500 and Nasdaq opened higher as rate-hike fears cooled a bit.
Context:— The market now sees around 65.6% odds that the Fed holds rates in September.
— But the Fed is not fully soft yet: Cleveland Fed president Beth Hammack still sounds cautious on inflation.
— BTC keeps retesting the $63K area, and every retest makes support look more fragile.
— Glassnode warns that $61K is a danger zone, where long liquidations could add more selling pressure.
Bottom line: cool inflation data gave Bitcoin some breathing room, but not real strength. BTC needs to stop flirting with $63K and push higher with volume. Otherwise, one bad move toward $61K could turn this quiet range into another forced sell-off.
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