Bitcoin eyes $63K as US CPI relief sends September Fed rate pause odds to 60%
60-second summary
Bitcoin price action remains cautious despite US CPI inflation numbers matching expectations, sending September Fed rate pause odds to 60%. The relief in inflation data has not yet reflected in Bitcoin's price, with the cryptocurrency hovering around $59,500. Bitcoin's failure to hold above $63,000 has raised concerns over its support level, potentially impacting market sentiment and investor confidence.
Bitcoin price action did not reflect relief in US CPI inflation numbers matching expectations amid a warning over $63,000 failing as support.