Bitcoin traders prepare for US macroeconomic data as BTC price remains stagnant at $67K.

Bitcoin (BTC) struggled to gain momentum and failed to break the $70,000 level on May 30, as traders awaited the release of important macroeconomic data. The price action of BTC showed a lack of direction as it tested nearby support levels. Recent price movements established $67,000 as a crucial level for bulls to defend, but they struggled to push the price back towards overhead resistance. The relative strength index (RSI) signals indicated waning momentum, suggesting that any further downside should find support around $65,000. Traders noticed declining volume during revisits to the lower end of the short-term range. The focal point of the day was the upcoming release of US macro data, including jobless claims and the first revision of Q1 GDP. These data prints had the potential to cause volatility in the crypto and risk-assets markets if they deviated from expectations. The Federal Reserve’s preferred inflation gauge, the Producer Price Index (PCE), was also due on May 31. It was expected to be a significant day for the markets, and traders were closely monitoring the releases. Please note that this article does not provide investment advice or recommendations, and readers should do their own research before making any decisions.