Bitcoin price action fell to week-to-date lows with Bitcoin caught between high US inflation and nerves over Fed policy hints at the day's FOMC meeting.

Bitcoin consolidated recent gains in the face of blanket skepticism over its rebound, while gold threatened to give up $5,000 support.

Bitcoin bulls failed to break through major resistance at six-week highs as open interest trends triggered warnings of a BTC price reversal.

Bitcoin achieved new six-week highs at the week's first Wall Street open, but analysis stayed risk-off, arguing that the long-term BTC price downtrend was still in place.