Bitcoin hovered below the $65,000 threshold, around $64,000, down approximately 0.5% on the day. US PMI data revived stagflation concerns, with the activity index at 54.1 in July but employment dropping 3.6 points to 47.4, its lowest since March, while the prices paid index surged to 70.3, near its highest since October 2022. Iran tempered hopes for a reopening of the Strait of Hormuz, leaving markets uncertain about the resumption of international shipping. According to Glassnode and Bitfinex, Bitcoin remains in an indecisive phase without a genuine breakdown, failing to react to gold hitting its highest in six weeks and the S&P 500 reaching all-time highs.
Source: Read the original article
