Bitcoin (BTC) narrowly avoided a fresh attack on $69,000 as markets reacted to the latest U.S. inflation data. BTC spiked to $68,433 before dropping again, following the release of the U.S. Producer Price Index (PPI) for May, which was lower than expected, indicating slowing inflation. Despite this being a positive sign for risk assets and crypto, the market reaction was subdued. Jobless claims, which beat forecasts, also failed to boost sentiment. Trading firm QCP Capital remains optimistic about the longer-term outlook for Bitcoin and Ether (ETH), anticipating a rate cut in September and the approval of spot Ether exchange-traded funds (ETFs).