Bitcoin Struggles to Break $30K Amid Weak U.S. Retail Sales

Bitcoin remains under pressure below $30K as the US economy shows signs of growth and traders anticipate another Federal Reserve rate hike. While the retail sales report for June indicated some weakness in the headline number, the retail sales "control group" rose 0.6%, surpassing expectations. This has increased the likelihood of a 25 basis point rate hike next week, with traders pricing in a 97.3% chance. Bitcoin, which had shown potential for an upside breakout, now sits at $29,780, near its recent low.