⚠️ Bitcoin is still below $65,000… but the surprise is that inflation data hasn’t yet given the market a strong push.
The news is accurate in its essence: tensions around the Strait of Hormuz have pressured risk appetite, while the market remained waiting for U.S. inflation data. But the picture changed slightly after the headline was published, because the July data has already been released today.
U.S. inflation slowed to 3.4% year-on-year, and rose 0.1% month-on-month, while core inflation was 2.5% year-on-year. The figures came in almost in line with expectations; however, Bitcoin stayed near the $64,000 area and showed no clear breakout above $65,000.
And here is the most important point 👇
The lack of a downside surprise in inflation eases some of the pressure, but alone it wasn’t enough to change the market’s direction. On the other hand, ongoing geopolitical tensions around Hormuz keep traders more cautious about high-risk assets.
So the trader who reads price action doesn’t stop at the news. They watch trading volume, demand strength, and whether price can hold a real breakout above resistance instead of chasing a short-term move right after the headlines hit.
🔥 The question now:
Has Bitcoin’s failure to leverage the inflation data signaled weakness… or is the market gathering liquidity before another attempt to break above $65,000?
#bitcoin #BTC #crypto
$BTC
The news is accurate in its essence: tensions around the Strait of Hormuz have pressured risk appetite, while the market remained waiting for U.S. inflation data. But the picture changed slightly after the headline was published, because the July data has already been released today.
U.S. inflation slowed to 3.4% year-on-year, and rose 0.1% month-on-month, while core inflation was 2.5% year-on-year. The figures came in almost in line with expectations; however, Bitcoin stayed near the $64,000 area and showed no clear breakout above $65,000.
And here is the most important point 👇
The lack of a downside surprise in inflation eases some of the pressure, but alone it wasn’t enough to change the market’s direction. On the other hand, ongoing geopolitical tensions around Hormuz keep traders more cautious about high-risk assets.
So the trader who reads price action doesn’t stop at the news. They watch trading volume, demand strength, and whether price can hold a real breakout above resistance instead of chasing a short-term move right after the headlines hit.
🔥 The question now:
Has Bitcoin’s failure to leverage the inflation data signaled weakness… or is the market gathering liquidity before another attempt to break above $65,000?
#bitcoin #BTC #crypto
$BTC