Bitcoin slips to $65,000 as US inflation spooks investors
Bitcoin slipped over 3.5% to $65,674 on Friday after US producer prices came in higher than expected, making a Federal Reserve rate cut less likely.
This has since erased most of Wednesday's gains toward $70,000 and kept Bitcoin bouncing between $62,000 and $70,000—thanks to tight liquidity and ongoing market uncertainty.
Expect more volatility until new demand comes in
For anyone watching crypto, this is a reminder of how quickly things can swing. Higher inflation numbers spooked investors and led to more selling pressure.
As Daniel Reis-Faria from ZeroStack put it, "We're still in the same range we've been in for weeks. Until we see consistent new demand, these moves are going to keep happening."
Until there's clearer regulation or big institutional players jump in, expect the rollercoaster to continue.
Bitcoin's choppy trading range since last October
Bitcoin surged to a record high of more than $126,000 last October but saw a sharp selloff afterward and has traded in a choppy $62,000-$70,000 range in recent weeks.
Big banks like JPMorgan think things could settle down later this year if new market rules pass—but for now, volatility is the name of the game.