Bitcoin is attempting to hold above $80,000 amid persistent US inflation. Kevin Warsh highlighted that 54% of PCE basket components rose faster than 3% over 12 months, well above the pre-pandemic average of 32%. US-traded spot Bitcoin ETFs absorbed over $1.1 billion across four sessions, with 86% flowing into BlackRock’s IBIT. The two-year US Treasury yield stood at 4.29%, signaling the market is keeping a higher-rate path in play. A durable recovery above $80,000 would require continued inflows beyond IBIT and inflation data showing a meaningful narrowing across the consumption basket.
Source: Read the original article
