Cryptos Stuck in Neutral as Inflation Data Fails to Spark Rally

Bitcoin's price continues to trade sideways, failing to receive a boost from the latest inflation data. According to TradingView, the cryptocurrency has been range-bound in recent days, with its price stuck at around $63,146.92.

The same can be said for other major cryptocurrencies such as Ethereum, XRP, and Dogecoin, which have also seen little movement in their prices.

Meanwhile, SoSoValue data shows that spot Bitcoin ETFs saw net outflows of $61.2 million on Wednesday, while spot Ethereum ETFs saw net inflows of $7.4 million.

Trader KillaXBT predicts that Bitcoin's price could still fall to the $48,000 to $52,000 historical bear market support zone over the next 1.5 months, but notes that if BTC avoids this range through October or November, the cycle bottom may already be in.