Bitcoin Price Coils Under $65K as US PMI Data Brings New ‘stagflation’ Warning

Bitcoin price coils under $65K as US PMI data brings new ‘stagflation’ warning Bitcoin price action stayed compressed in an ongoing divergence from stocks and gold while US PMI data sparked fresh talk of “stagflation.” Bitcoin (BTC) stayed motionless at Thursday’s Wall Street…

en as analysis saw signs of reemergent US “stagflation.” Key points: – Bitcoin stays below $65,000 as Iran tempers expectations over the Strait of Hormuz oil route reopening. – US PMI data analysis sees “stagflation” return as a potential future risk. – BTC price indecisiveness means that the market still lacks a “genuine breakdown,” says Bitfinex. Iran cools market hopes of Hormuz deal Data from TradingView showed BTC/USD hovering above $64,000, down around 0.5% on the day, while US stocks opened flat

BTC/USD one-hour chart.