Live markets: Bitcoin holds above $61,000 as latest inflation data meets forecasts

Bitcoin's price has managed to hold above $61,000 despite a significant sell-off that pushed it to its lowest point since early June. This downturn was partly due to substantial liquidation losses in the cryptocurrency market. However, positive earnings reports from tech giants like Micron and the U.S. listing plans by SK Hynix have helped stabilize the market, particularly in the AI trade sector where Bitcoin had been declining. This stabilization is crucial as it reflects investor confidence amidst economic forecasts and tech sector developments.