Bitcoin remains trapped between $62,000 and $68,000, with $69,000 identified as the key breakout level to change market structure. A decisive move above that threshold, backed by real spot inflows, could open a thinner supply zone toward $83,000 to $86,000. September rate hike odds have dropped from 80.5% to 57.4%, and Friday’s jobs report could settle the question. US manufacturing PMI hit 55.6 in July, its highest since May 2022, while core PCE remains stubbornly elevated at 3.3% year-over-year. US spot Bitcoin ETFs saw their worst month on record in June, returning approximately 65,800 BTC, and ETF flows remain the critical missing ingredient to validate a sustained move.
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