Bitcoin Retraces Ahead of Key US Economic Reports

Bitcoin hovered around the $62,000 support level on October 9 as markets anticipated the release of key U.S. macroeconomic data. Data from Cointelegraph Markets Pro and TradingView revealed that Bitcoin’s price action remained tightly range-bound, with multiple retests of the $62,000 level heading into the daily close. With little momentum in either direction, BTC/USD left traders in a holding pattern as they waited for several upcoming U.S. economic reports. The first major event, scheduled for 2 p.m. ET on October 9, was the release of the minutes from the Federal Reserve’s September meeting, which included a surprising 0.5% interest rate