BTC price news: Bitcoin slips near $63,500 as traders look past CPI to Fed’s next tests

BTC price news: Bitcoin slips near $63,500 as traders look past CPI to Fed’s next tests

Markets

Bitcoin slips near $63,500 as traders look past CPI to Fed’s next tests

An in-line inflation print removed a tail risk but gave BTC little reason to rally, leaving Jackson Hole, jobs data and the next CPI release as the market’s next catalysts.

By

Shaurya Malwa

2 hrs ago

2

min read

Make

preferred on

Share

Share this article

Copy link

X icon

X (Twitter)

LinkedIn

Facebook

Email

Make

preferred on

Bitcoin price today. (CoinDesk Data)

Summary

Show

Bitcoin slipped to about $63,500 after an in-line U.S. inflation report that eased nerves but failed to spark a broad crypto rally, with most major tokens declining on the day.

July inflation matched forecasts, reinforcing expectations that the Federal Reserve can wait on further rate moves and prompting modest gains in gold, equities and some digital assets.

Global stock markets reacted more positively than crypto, with Asia’s MSCI index and Korea’s Kospi advancing sharply even as some U.S. tech names and oil prices retreated.

Bitcoin fell to near $63,500 on Thursday, down over half a percent on the day and almost 2% on the week, as an in-line U.S. inflation report proved enough to calm nerves but not enough to move the market.

Hyperliquid's HYPE was the standout, up over 3% to $56 though flat on the week. Tron added marginally to just under 34 cents and is up 2% over seven days. Everything else fell. Dogecoin dropped almost 3% to 7 cents, XRP over 1% to $1 and is down almost 5% on the week, BNB over 1% to $610, solana under 1% to $76 and ether marginally to $1,880.

July's numbers landed almost exactly where economists expected. Headline inflation rose 0.1% on the month and 3.4% on the year, with the core measure that strips out food and energy up 0.2% and easing to 2.5%.

That was enough to trim the odds of a Federal Reserve rate rise in September, which futures markets cut to about 38% from 46% before the release. Gold rose 1.3% in the immediate aftermath, ether just over 1%, bitcoin around half a percent and S&P 500 futures 0.2%.

Gabe Selby, head of research at CF Benchmarks, told CoinDesk that bitcoin moves hardest when inflation data forces a rethink on rates, gaining an average 3.25% across the three occasions in the past nine releases when inflation came in below expectations.

A downside surprise on July 14 was followed by a 4.24% rally. "An in-line report can remove a tail risk," Selby said. "It takes a genuine surprise to create a catalyst." He further sees room for the Fed to wait, with shelter costs up just 0.1%, energy down 1.5% and gasoline down 2.9%, and some goods categories now lapping last year's tariff-driven increases.

The next tests are the Jackson Hole gathering of central bankers later this month, the Sept. 4 jobs report and the Sept. 11 inflation release.

Equities took the news better. MSCI's Asia Pacific index rose almost 1% with Samsung Electronics and SK Hynix the biggest contributors, and Korea's Kospi rallied almost 4% into a technical bull market, up 22% in ten days.

The mood was not uniform, with Cisco falling over 4% after hours on underwhelming earnings and Cerebras Systems dropping 17% on declining hardware sales.

Brent crude snapped a six-day run of gains, easing after a stretch that had taken it to $90 a barrel. That came as an Islamic Revolutionary Guard Corps adviser, General Mohammad Reza Naqdi, said Iran was preparing to carry out operations on U.S. soil under a new military doctrine.

Latest Crypto News

1

Metaplanet denies selling bitcoin worth $320 million

26 min ago

2

Bitcoin firms ask AI labs for same tools attackers already have

39 min ago

3

Speculation on dogecoin is back to October 2025 levels. The price is down 70%

1 hr ago

4

Prediction markets should dial back faulty filings for incentives to boost trading: CFTC

6 hrs ago

5

Securitize falls 20% after earnings miss as tokenization revenue falls short

7 hrs ago

6

Morgan Stanley's infrastructure partner Zerohash rebuffed in pitch to be U.S. trust bank

7 hrs ago

7

Goldman Sachs leaps into bitcoin income ETFs with $2.25 billion NEOS buyout

12 hrs ago

8

Wintermute plans $1 billion AI push beyond crypto: Bloomberg

13 hrs ago

9

Kalshi taps DoubleZero for Wall Street-style high-speed data feed

13 hrs ago

10

Miden bets on privacy stablecoins with introduction of USDCx

15 hrs ago

Latest Research

Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

By

CoinDesk Research

Jun 30, 2026

Commissioned by

GenZcash

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters

:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

View Full Report

More From

Markets

Metaplanet denies selling bitcoin worth $320 million

Speculation on dogecoin is back to October 2025 levels. The price is down 70%

Securitize falls 20% after earnings miss as tokenization revenue falls short

Crypto

CD20

$1,749.61

CD20 up 0.25 percent

0.25%

BTC

$63,805.41

BTC up 0.23 percent

0.23%

ETH

$1,893.87

ETH up 0.43 percent

0.43%

XRP

$1.01

XRP down 0.57 percent

0.57%

SOL

$76.45

SOL up 0.63 percent

0.63%