Bitcoin tops $64,000 as cooling U.S. inflation guts the Fed rate-hike trade
The June CPI print pulled hike odds from 43% to 13%, with analysts now watching the September FOMC meeting for further cues on positioning.
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Summary
- Bitcoin jumped about 3.6 percent to near $64,800 after U.S. inflation cooled more than expected, sharply reducing market odds of a near-term Federal Reserve rate hike.
- June headline inflation slowed to 3.5 percent and core inflation eased to 2.6 percent, lifting cryptocurrencies and global equities as traders rotated back into risk assets.
- Analysts say bitcoin remains highly sensitive to interest-rate expectations, with the latest data easing immediate downside pressure but leaving the next major test at the Fed’s September meeting and in sustaining bitcoin ETF inflows.
