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Bitcoin slips toward $64,000 after Korea rate hike as U.S. data nears

The CoinDesk 20 fell 1.1% since the U.S. close, and several top coins lagged amid a macro risk-off backdrop.

Reported · Written up by our desk · Market Structure

Bitcoin traded just below $65,000 early Thursday and slipped back toward $64,000 after South Korea raised its benchmark interest rate for the first time in over three years, warning about sticky inflation, CoinDesk reported. The move came as investors looked ahead to U.S. retail sales and jobless claims data for signs of whether economic conditions would keep inflation contained or tip toward a downturn.

CoinDesk said the CoinDesk 20 Index was down 1.1% since the U.S. market close, with UNI and XLM leading gains while BCH and AAVE lagged. At the same time, Nasdaq futures fell by 0.6%, and Asian equities slid, with South Korea’s Kospi dropping by more than 6% and Japan’s Nikkei losing nearly 2%.

Bitfinex analysts told CoinDesk that bitcoin’s push toward $65,000 looked like a macro trade tied to broader risk assets rather than crypto-specific demand. They pointed to earlier soft June inflation data shifting expectations for a July rate hike and said U.S. spot bitcoin ETFs sold about $425 million on July 13, with strategy buying nothing.

According to Bitfinex, indicators of spot absorption were muted, with the Coinbase premium remaining negative and no steady bid showing persistent price-agnostic demand. In that framing, a rally driven by macro catalysts but lacking spot support could be more temporary, the outlet said.

Latest closeBitcoin $64,147.15 ▼0.9%|Nasdaq Comp. 26,269.23 ▲0.6%|Nikkei 225 67,743.50 ▲0.7%

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