Bitcoin (BTC) Price: Bollinger Bands Flash October 2023 Signal - Here’s What Happened Next
TLDR
- Bitcoin held near $63,900 after US PPI data came in cooler than expected in July
- PPI rose 4.7% year-on-year, below the forecast of 4.9%, easing rate hike fears
- Markets now price a 65.6% chance the Fed holds rates steady at the September meeting
- Onchain analyst Rafael Schultze-Kraft flagged $61,000 as a key long liquidation level
- Bitcoin has struggled to break above the $64,000–$65,000 resistance range
Bitcoin held near $63,900 on Thursday after US inflation data came in softer than expected, giving crypto markets a mild boost but failing to push prices higher.
The US Producer Price Index for July came in unchanged month-on-month, missing forecasts for a 0.2% rise. On an annual basis, PPI slowed to 4.7%, below the expected 4.9%. Falling gasoline and energy prices were the main drivers of the softer reading.
🇺🇸 July Inflation & Jobs Data
Core PPI MoM: 0.2% vs 0.3% est ✅
PPI MoM: 0% vs 0.2% est ✅
Initial Jobless Claims: 209k vs 202k est ❌- TrendSpider (@TrendSpider) August 13, 2026
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