Bitcoin's price remains below $58K despite bullish CPI data and expected Fed rate cuts. Here’s why:
🧐 Scalping and market makers liquidating leveraged longs are causing short-term weakness, even as the overall trend suggests a potential bounce back to $60K.
📈 Stocks and gold are performing well, with the S&P 500 and gold nearing record highs. This traditional market strength is diverting attention from Bitcoin.
🇩🇪 The German government is selling off seized Bitcoin, miners are offloading holdings post-halving, and there are fears of a global economic slowdown. These factors contribute to Bitcoin's current stagnation.