🚨🚨Bitcoin Falls Below $56,000 Despite Favorable CPI Data as Markets Remain Cautious🚨🚨

Bitcoin (BTC) continued its slide on September 11, falling below $56,000 despite a positive Consumer Price Index (CPI) report that suggested inflation was cooling. CPI data showed a 2.5% year-on-year increase, the smallest increase since February 2021, but BTC fell more than 3% during the US market open.

Traders are anticipating more downside, with some expecting a retest of $55,000 or even $54,000. Meanwhile, liquidity has yet to reach levels above $57,000. Despite the Federal Reserve expected to cut interest rates by 0.25% on September 18, Bitcoin prices failed to benefit from the news.

In contrast to Bitcoin’s decline, gold hit an all-time high, signaling a shift to traditional safe-haven assets in a risk-off environment. CryptoQuant’s report highlighted this decoupling between BTC and gold, with a weakening US dollar adding to market volatility. Investors appear to be staying away from Bitcoin, awaiting more stability in the broader economic landscape.

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