Daily Market Updates: Bitcoin dips below $64,000 after in-line July CPI

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Bitcoin dips below $64,000 after in-line July CPI

July CPI came in at 3.4%, matching forecasts and reinforcing expectations the Fed can stay patient, analysts said.

Reported · Written up by our desk · Bitcoin

Bitcoin fell below $64,000 following July CPI data that matched market forecasts, according to The Block.

The outlet reported that the CPI print came in at 3.4%, which analysts viewed as keeping the Federal Reserve on a slower, more measured timeline rather than signaling urgency.

As a result of the in-line inflation reading, analysts characterized the move in bitcoin as lack of conviction rather than a clear shift in direction.

Latest closeBitcoin $63,445.80 ▼0.2%

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The BlockBitcoin dips under $64,000 as in-line CPI buys the Fed time, not conviction: analysts

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Bitcoin dips below $64,000 after in-line July CPI

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