Bitcoin posted an uptick on Monday as traders await United States inflation data, which could help determine whether and when the Federal Reserve might lower borrowing costs in 2024.

The largest digital asset by market cap is holding above the $62,000 mark, having posted an uptick of almost 3% in the past 24 hours to trade at $62,815 at 5:02 a.m. ET, according to The Block’s Price Page. 

Recent U.S. economic data suggest that the nation's economy is experiencing a slight slowdown compared to the more buoyant conditions of 2023. U.S. employment data for April revealed weaker growth than analysts had anticipated for the first time in months. If this trend persists, it could exert pressure on the …