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Crypto

Bitcoin Fails to Rally on Favorable Data Amid Waning Momentum

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin struggled to react positively to recent macroeconomic data, including a weak US jobs report and favorable Consumer Price Index (CPI) and Producer Price Index (PPI) numbers. The asset has lost some traction and is currently down on the week, barely holding above $63,000.

The combination of good CPI and PPI data should have been supportive for Bitcoin, but it failed to translate into price gains or a broader adoption increase. Instead, the crypto market continues to show waning momentum, with downside risk rising as a result.

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