BTCUSDT: Breakdown Channel, Bearish Pressure PersistsBitcoin / TetherUSBINANCE:BTCUSDTDomicChainaBitcoin is trading around $64,080–$64,130, down approximately $932 (1.43%) for the day. The price dipped as low as $63,771 at one point, indicating significant short-term selling pressure. On the macro front, the market is exercising caution ahead of the US CPI release on August 12. The US dollar has staged a modest recovery as investors trim risk exposure prior to the inflation data, while the probability of a Federal Reserve rate hike in September remains around 50%. These factors are somewhat dampening buying interest in Bitcoin. On the 1-hour (H1) chart, BTCUSDT has broken down from its rising channel and is currently trading below both the EMA34 and EMA89. The $64,400–$64,650 USDT zone is now acting as immediate resistance; if the price attempts a rebound but faces rejection at this level, I lean towards the scenario of BTC retracing to the $62,900–$63,200 USDT range.