Bitcoin dipped toward $71,000 at the opening of Wall Street on October 31, as U.S. macro data failed to boost its price.
According to Cointelegraph Markets Pro and TradingView, BTC/USD was down 1.6% for the day, continuing its retracement.
The September Personal Consumption Expenditures (PCE) index aligned with expectations, but the lack of volatility left crypto markets unresponsive.
“Both core PCE and CPI inflation remain elevated and stubborn,” noted The Kobeissi Letter on X, mentioning upcoming interest rate cut discussions scheduled for November 7.
CME Group’s FedWatch Tool indicated that market expectations remained steady, with a 96% chance of a 0.25% rate cut next week.
Meanwhile, trading resource Material Indicators observed that Bitcoin whales were reducing their BTC exposure over the past 24 hours, contrasting with the previous week’s accumulation.
