Bitcoin Stalls Near $63,500 Despite Softer US PPI — Is Price About to Pump?
The actual 4.7% print satisfied the analyst's bullish condition.
But the prediction did not come to fruition immediately.
Bitcoin has remained around $63,700 at the time of writing and was slightly lower during the day, even though inflation data came in on the favorable side of expectations.
The muted move does not rule out a delayed advance.
Bond and currency markets may take time to absorb the report, while investors will also reassess the likely path of the Fed's next decisions.
Bitcoin Price: Can Softer PPI Break the Current Range?
Bitcoin's price was changing hands near $63,700 after trading between roughly $63,300 and $64,000 during the session.
The market had already struggled to sustain a move above $64,000 following the previous day's CPI report, despite inflation moving in a more favorable direction.
That price action suggests the softer PPI is supportive but not yet strong enough to become a standalone breakout catalyst.
Earlier market analysis identified the $64,150–$64,500 region as the first area Bitcoin would need to reclaim to improve short-term momentum, with support clustered around $63,200.
If the PPI report pushes Treasury yields and the dollar lower while rate-hike expectations continue to recede, Bitcoin could make another attempt at $64,500 and the upper end of its recent range.
A clean move above that area would provide stronger evidence that buyers are responding to the improving economic momentum.
If BTC remains below resistance, however, the market may continue consolidating despite the favorable inflation surprise.
A break below approximately $63,200 would instead signal that broader selling pressure is outweighing the PPI tailwind.
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The post Bitcoin Stalls Near $63,500 Despite Softer US PPI — Is Price About to Pump? appeared first on ccn.com.
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