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Bitcoin stays rangebound below $64,000 as buyers remain scarce

The Block links the lack of follow-through to soft inflation signals, with July PPI staying flat and CPI coming in line.

Reported · Written up by our desk · Bitcoin

Bitcoin has remained largely rangebound below $64,000 as crowded long positions meet muted macro catalysts, according to The Block.

The outlet points to July PPI that was flat and CPI data that came in line, noting that neither reading sparked a sustained rally.

Glassnode flagged that the tape has been unusually quiet, with absent buyers failing to add momentum despite the recent run-up into the range.

With conditions described as the quietest since 2019, traders appear to be waiting for clearer signals before pushing bitcoin out of its current trading band.

Latest closeBitcoin $63,394.56 ▼0.0%

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