Bitcoin keeps traders guessing near $64K as stocks gain on cool US PPI data

Bitcoin (BTC) edged away from weekly lows on Thursday after the US Producer Price Index (PPI) narrowly cooled in July.Key points:Bitcoin avoids further downside as US PPI data provides a boost to US equities.Cleveland Fed president stays hawkish on the outlook for interest-rate policy. Bitcoin long liquidations make $61,000 a key level to watch.July PPI extends cooler US inflation trendBTC/USD was up around 0.5% on the day near $63,900 with volatility broadly absent, data from TradingView showed.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewThe July US Producer Price Index (PPI) print was unchanged month-on-month at 0.2%, while year-on-year increased 4.7% versus an anticipated 4.9%, per data from the Bureau of Labor Statistics (BLS).“In July, a 0.2-percent increase in the index for final demand services and a 2.2-percent advance in prices for final demand construction offset a 0.7-percent decrease in the index for final demand goods,” the BLS release said. “Falling gasoline and energy prices provided the biggest relief,” Econoday analysts highlighted.US PPI one-month % change. Source: BLSUS stocks gained at the Wall Street open as PPI further cooled market bets on intere...