BTC price performance offers little inspiration through the latest U.S. macro data, but concern is brewing among Bitcoin analysts over $60,000 support.The latest print of the Personal Consumption Expenditures Index, known as the Fed’s “preferred” inflation gauge, conformed to expectations across the board.“PCE data expectedly came in cooler.
“US market will still focus on sept rate cut & pricing in trump presidency as well how it would look/impact industries,” he, market sentiment continues to favor the Federal Reserve cutting interest rates — a key liquidity event for risk assets and crypto — at the September meeting of the Federal Open Market Committee, or FOMC.Bitcoin miner sell pressure ‘weakening’ as BTC withdrawals drop 85%
“Bitcoin Daily Closed below the Bull Flag top so it is still sentenced to additional consolidation inside the pattern,” popular trader and analyst Rekt CapitalFor trading resource Material Indicators, however, there was cause for concern. Bid support below $60,000, it warned, was dissipating. “FireCharts shows a block of Bitcoin bid liquidity moving up to $60k, but the ladder of support below it is thinning,” itBTC/USDT liquidity for Binance. Source: Material Indicators/X
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