Bitcoin slips near $63,500 as traders look past CPI to Fed’s next tests
An in-line inflation print removed a tail risk but gave BTC little reason to rally, leaving Jackson Hole, jobs data and the next CPI release as the market’s next catalysts.
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Summary
- Bitcoin slipped to about $63,500 after an in-line U.S. inflation report that eased nerves but failed to spark a broad crypto rally, with most major tokens declining on the day.
- July inflation matched forecasts, reinforcing expectations that the Federal Reserve can wait on further rate moves and prompting modest gains in gold, equities and some digital assets.
- Global stock markets reacted more positively than crypto, with Asia’s MSCI index and Korea’s Kospi advancing sharply even as some U.S. tech names and oil prices retreated.
