Now Reading: Bitcoin Holds Near $65,000 on Weak US Jobs Data
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Bitcoin Holds Near $65,000 on Weak US Jobs Data
Bitcoin hovered around $65,000 (about Rs 62 lakh) this week after weaker-than-expected US employment data revived expectations of a Federal Reserve rate cut. Crypto analysts said thin trading volumes and cautious spot…
The Story in Brief
Bitcoin hovered around $65,000 (about Rs 62 lakh) this week after weaker-than-expected US employment data revived expectations of a Federal Reserve rate cut. Crypto analysts said thin trading volumes and cautious spot demand could cap further gains.
Investors are now awaiting US CPI and PPI data due later this week, which could provide the next major catalyst. Repeated resistance near $65,000 has kept the market subdued, with ETF demand and trading volumes being watched closely.
The Indian Opinion
The usual narrative that a single jobs report dictates Bitcoin's fate is overblown. Thin holiday volumes exaggerate price moves both ways. What will settle the story is not a rate cut guess but sustained ETF inflows and the actual CPI print this week. Can the bulls hold $64,000 if inflation stays sticky?
Sources (2): gadgets360.com, gadgets360.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
