Bitcoin continues ranging as crowded longs meet soft inflation, the quietest tape since 2019: analysts
60-second summary
Bitcoin holds steady under $64,000 as July's flat PPI and in-line CPI data fail to spark a rally, contradicting expectations of a price surge. Analysts note a lack of buyer interest, with Glassnode flagging absent buyers. This quiet market tape is reminiscent of 2019, suggesting a prolonged consolidation phase for Bitcoin. Market sentiment remains cautious.
Bitcoin flattened under $64,000 as flat July PPI and in-line CPI both failed to spark a rally, with Glassnode flagging absent buyers.