Bitcoin Crosses $61K As Traders Remain Cautious Ahead Of CPI Release And Goldman Sachs Discloses Over $400M BTC ETF Holdings
Bitcoin crossed above $61K in early Asian trading hours today as traders remain cautious ahead of the release of US CPI (Consumer Price Index) data and a recent filing shows Goldman Sachs holds positions in multiple BTC ETFS (exchange-traded funds). Since breaching $61K earlier today, BTC has pulled back to trade at $60,856.21 as of 3:20 a.m. EST. Despite this correction, the leading crypto is still up more than 2% over the past 24 hours. Traders Remain Cautious Ahead Of CPI Release Even though BTC was able to reclaim a position above $60K in the past trading session, several traders and trading funds remain cautious ahead of a busy data week. “Investors remain cautious ahead of US CPI this week,” said QCP Capital in a Telegram broadcast. Traders will try to gauge if the US Federal Reserve will cut interest rates by 50 or 25 basis points in September, the crypto trading firm added. Currently, the odds of either happening are “evenly split,” accordin...