On July 3, Bitcoin (BTC) was trading at $61,000 as the US inflation outlook worsened. 😕 BTC prices are recovering after a 2% decline. The mood worsened after a speech by Jerome Powell, chairman of the US Federal Reserve, who said it was necessary to make sure current inflation levels were correct. Markets have reduced the likelihood of a rate cut at the September FOMC meeting to 65%. Bitcoin is returning to the lower end of the range.