Bitcoin (BTC) saw a decline on September 11, dropping below $56,000 despite positive inflation data from the Consumer Price Index (CPI). The CPI report showed a year-on-year increase of 2.5%, the lowest since February 2021. However, Bitcoin's price fell by over 3% at the start of the U.S. market, with traders expecting further declines to around $55,000 or even $54,000. Liquidity above $57,000 remained hard to capture.
Even though the Federal Reserve is expected to cut interest rates by 0.25% on September 18, Bitcoin hasn't reacted positively. Meanwhile, gold reached an all-time high, signaling that investors are favoring traditional safe-haven assets as the market remains cautious. A report from CryptoQuant pointed out a decoupling between Bitcoin and gold, with uncertainty heightened by the weakening U.S. dollar.
Do you see this trend continuing, especially with the upcoming Fed decision?
