Bitcoin remains subdued below US$65,000 amid fresh United States stagflation concerns
Bitcoin held steady beneath the sixty-five thousand dollar mark as United States PMI data pointed to rising risks of stagflation, with investors watching global economic signals and market indecision persisting.
7th August 2026 – (New York) The price of Bitcoin remained largely unchanged at the opening of Wall Street on Thursday, trading above sixty-four thousand dollars but failing to break through the sixty-five thousand dollar threshold. This lack of movement came as investors took stock of newly released United States economic data, which has reignited fears of stagflation within the world’s largest economy. Market watchers noted that hopes for renewed volatility from geopolitical developments were dampened after Iran signalled a deal over the reopening of the Strait of Hormuz oil route would not immediately restore international shipping, keeping West Texas Intermediate crude prices around seventy-six dollars per barrel. Economic data released by the Institute for Supply Management indicated ongoing divergence in the United States service sector. The PMI rose by nought point one point to fifty-four point one in July, but employment within the sector dropped by three point six points to forty-seven point four, representing its lowest level since March. Concurrently, prices paid surged two point six points to seventy point three, reaching levels not seen since October 2022. Analysts highlighted the mounting pressure on the economy from both rising costs and a weakening labour market, noting that the risk of stagflation appears to be growing. Despite these developments, Bitcoin’s price action has remained rangebound for several weeks, exhibiting what analysts at Glassnode characterised as “boredom, rather than capitulation. ” The crypto asset has shown little response to the recent highs reached by gold and record levels in the S&P 500, prompting suggestions that significant trading or a decisive shift in market sentiment may be required to trigger any pronounced move. Further commentary from Bitfinex Research echoed the view that macroeconomic stress alone is insufficient to produce a genuine market breakdown for Bitcoin, underlining the need for a clear catalyst and higher trading volumes. The situation remains under close watch as investors await further signals to clarify the outlook for global risk assets and the digital currency sector.