Now Reading: Bitcoin stays near Rs 61 lakh after US CPI data
-
01
Bitcoin stays near Rs 61 lakh after US CPI data
Bitcoin held around Rs. 61 lakh after July US CPI data met expectations, keeping the cryptocurrency range-bound between support and resistance near Rs. 62 lakh. Traders now await the US Producer Price…
The Story in Brief
Bitcoin held around Rs. 61 lakh after July US CPI data met expectations, keeping the cryptocurrency range-bound between support and resistance near Rs. 62 lakh. Traders now await the US Producer Price Index (PPI) release, which could provide the next catalyst. The narrow trading band reflects market caution after recent volatility, with no clear breakout direction yet.
The Indian Opinion
The crypto faithful often read too much into every US inflation print, as if one number will break Bitcoin out of its rut. Yesterday's CPI matched forecasts, so the market yawned. The real test is Thursday's PPI, if that surprises, the range may finally crack. Until then, calling a breakout is just noise dressed as analysis. Why do we insist on daily drama from an asset that has barely moved in weeks?
Source: gadgets360.com
This story was synthesised by AI from the source linked above.
