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Bitcoin holds near $63,500 as softer U.S. inflation data cools hike bets
CoinDesk says CME FedWatch cut September rate hike odds to 32%, down from above 75% a month ago, while Sharplink plans to deploy $200 million in ETH via Lido.
Bitcoin traded largely flat near $63,500 as markets digested U.S. inflation data, which pushed back expectations for a near-term Federal Reserve rate hike. CoinDesk cited CME FedWatch, which estimates trader-implied odds for a September hike fell to 32%, down from more than 75% a month earlier, while bets on tighter policy in 2026 remained near 70%.
CoinDesk also linked the crypto price action to U.S. wholesale inflation: the Producer Price Index was flat in June versus expectations for a 0.2% increase, and year over year it rose 4.7% versus a 4.9% forecast. Core PPI, excluding food and energy, rose 0.2% in July versus forecasts for 0.3% to 0.4%, while core PPI was up 4.2% year over year, matching estimates.
Beyond macro drivers, CoinDesk reported Sharplink, an Ethereum-focused digital asset treasury company, plans to deploy $200 million in ether through liquid staking protocol Lido. The firm will receive wrapped staked ether, wstETH, and will use Anchorage Digital to custody the tokens, aiming to earn staking rewards while keeping an asset usable in decentralized finance as collateral.
Latest closeBitcoin $63,763.02 ▲0.6%|Ethereum $1,889.51 ▲0.6%