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Bitcoin stays rangebound as Fed hike fears ease, focus turns to U.S. data

Bitcoin may continue trading in a range with no clear direction even as concerns about further U.S. rate hikes have eased, a report said. CoinShares said stronger-than-expected U.S. inflation and consumption data briefly lifted expectations of another hike, but those odds fell after Fed Chair Kevin Warsh did not signal additional tightening. Bitcoin has already come under pressure, and crypto investment products saw outflows last week. Investors are focused on upcoming U.S. data including PCE inflation, the jobs report and CPI.