đ„ BTC price retests $62K as Bitcoin preps 'very high impact' month end:
BTC price action is no longer getting US Bitcoin traders excited as the Coinbase Premium Index hits its lowest levels in over two months.
Bitcoin diced with $62,000 support into Oct. 9 as markets awaited an onslaught of United States macro data.
Bitcoin in limbo ahead of Fed minutes
Data from Cointelegraph Markets Pro and TradingView showed tightly rangebound Bitcoin
BTC
tickers down
$61,861.26
price action offering multiple retests of the $62,000 level into the daily close.
Lacking momentum up or down, BTC/USD forced traders to play a wait-and-see game in the run-up to multiple US economic events.
The first of these, due at 2 pm ET on Oct. 9, is the minutes of the Federal Reserveâs September meeting, which enacted a surprise 0.5% interest rate cut.
The first of these, due at 2 pm ET on Oct. 9, is the minutes of the Federal Reserveâs September meeting, which enacted a surprise 0.5% interest rate cut.
The September print of the Consumer Price Index (CPI) and Producer Price Index (PPI) are due on Oct. 10 and 11, respectively, with the former also including unemployment data.
âGenerally speaking risk assets havenât moved much and will likely could start to trend again post CPI & PPI later this week & into end of Oct,â trader and analyst Skew wrote in one of his latest posts on X.
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