Bitcoin drops to one-week low as retail buys gold at highest prices since June

Bitcoin price action sank to one-week lows ahead of US CPI data, while retail investors piled into gold ETFs and XAU/USD hit its highest levels in nine weeks.

Bitcoin (BTC) headed lower around Tuesday’s Wall Street open as investors’ appetite for gold sent the precious metal to nine-week highs.

Key points:

Data from TradingView showed BTC/USD abandoning a low-timeframe rebound to drop back below $64,000.

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