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Bitcoin rises toward $64,700 as inflation outlook hinges on rents

The rally comes amid data showing headline inflation fell 0.4% in June, while core inflation was flat at 2.6% and spending figures may not be inflation adjusted.

Reported · Written up by our desk · Market Structure

Crypto markets lifted Bitcoin back to around $64,700 after a soft inflation read, but the move also underscored how hard it is to tell whether consumer strength reflects higher demand or just higher prices, according to CryptoSlate.

The outlet noted that headline inflation fell 0.4% in June, taking the annual rate to 3.5%, yet the drop was largely driven by cheaper energy after oil fell during a ceasefire. Stripping out energy, core inflation did not move, holding at 2.6% for the year.

CryptoSlate also pointed to two other pieces of US economic data that can obscure the underlying story. Retail sales for June rose only 0.2%, with the softness attributed largely to gasoline, and the retail sales series is reported in raw dollars without inflation adjustment, so higher prices for the same purchases can still lift the headline number.

On the import side, the report cited import prices as another potential blind spot because the measure is designed around trade flows and can miss the effect of tariffs and customs duties. In this setup, the article argues the market is effectively weighing whether spending data confirms real growth or reinforces price-driven distortions, with Bitcoin bouncing on the softer inflation backdrop even as some effects may fade.

Latest closeGasoline (RBOB) $3.114 ▼5.7%|Bitcoin $64,664.94 ▼0.2%

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