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Bitcoin slips below $64,000 amid steady macro pressure

Ether is down 1.7% over 24 hours to about $1,884 as core PCE stays above the Fed’s 2% target for more than five years.

Reported · Written up by our desk · Market Structure

Bitcoin edged back below the $64,000 level, trading around $63,900, as crypto markets broadly fell even while US stocks continued moving higher. CoinDesk noted that ether was also weaker, down 1.7% over the past 24 hours to roughly $1,884.

CoinDesk linked the risk-off tilt in crypto to the macro backdrop, saying bond yields have been rising alongside a key inflation reading. The outlet cited that the Fed’s preferred inflation gauge, core PCE, rose 3.3% year-on-year in June, down slightly from May’s 3.4% but still well above the Fed’s 2% goal.

The move also coincided with international central bank developments, with CoinDesk saying the Bank of Japan held its benchmark at 1% and Governor Kazuo Ueda’s hawkish signals landed softly because markets had already priced a possible October hike. CoinDesk added that the yen move and carry trade dynamics, along with AI-driven demand expectations that have influenced bitcoin’s macro sensitivity, were part of the backdrop.

Latest closeBitcoin $62,929.67 ▼2.8%

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