BTCUSDT: Downward momentum, Bearish channelBitcoin / TetherUSBINANCE:BTCUSDTDomicChainaBTCUSDT is trading around 63,520 USDT and continues to move within a bearish channel, indicating that sellers remain in control of the short-term structure. Notably, the macroeconomic outlook has become less negative: the US PPI for July remained flat, causing the probability of a Fed rate hike in September to drop to around 32–35%. On the 1-hour (H1) chart, the 63,800–64,200 USDT zone acts as strong resistance, converging with the EMA and the upper boundary of the bearish channel. If BTC attempts to rebound but faces rejection at this level, I lean towards the scenario where the price pulls back to the 62,700 USDT zone.