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Bitcoin holds near $63,600 after in-line CPI calms markets

Bitcoin was up 0.3% since midnight UTC, while total crypto market cap fell 0.5% to $2.18 trillion following the July CPI and easing core inflation.

Reported · Written up by our desk · Market Structure

Bitcoin traded near $63,600 as crypto markets stayed in a low volatility range after a Wednesday U.S. inflation print came in line with expectations, according to CoinDesk.

CoinDesk reported that Bitcoin added 0.3% since midnight UTC, while overall crypto market capitalization slipped 0.5% over 24 hours to $2.18 trillion. The outlet also cited CoinMarketCap’s Fear and Greed index at a “fear” level of 38 out of 100.

The U.S. data showed July CPI at 3.4% year over year, matching forecasts, while core inflation eased to 2.5% from 2.6%. CoinDesk said further impetus for price action may come from the U.S. producer price inflation release due later.

CoinDesk also noted that S&P 500 index futures gained 0.13% and Nasdaq 100 futures were little changed. On the altcoin side, HYPE and Monero (XMR) were among the outperformers, up 2.7% and 3.2% respectively since midnight UTC.

Latest closeBitcoin $84,310.25 ▼0.1%|S&P 500 7,675.92 ▼0.4%|Nasdaq Comp. 26,749.30 ▼0.7%

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