Bitcoin price coils under $65K as US PMI data brings new ‘stagflation’ warning
60-second summary
Bitcoin price action remains compressed below $65K, diverging from stocks and gold, as investors weigh the implications of US PMI data indicating a potential "stagflation" scenario. The 49.1 PMI reading, a 12-year low, fuels concerns of slowing growth and rising inflation, with Bitcoin's price stability under $65K a key indicator of market sentiment.
Bitcoin price action stayed compressed in an ongoing divergence from stocks and gold while US PMI data sparked fresh talk of “stagflation.”