U.S. CPI inflation slows to 3.4% as expected, bitcoin (BTC) holds near $64,000

U.S. CPI inflation slows to 3.4% as expected, bitcoin (BTC) holds near $64,000

Markets

U.S. CPI inflation slows to 3.4% as expected, bitcoin holds near $64,000

Both headline and core inflation matched economists’ expectations, while bitcoin held near $64,000 and Treasury yields declined.

By

James Van Straten

,

Krisztian Sandor

,

Omkar Godbole

|

Edited by

Jamie Crawley

14 min ago

1

min read

Make

preferred on

Share

Share this article

Copy link

X icon

X (Twitter)

LinkedIn

Facebook

Email

Make

preferred on

(joshua-hoehne/Unsplash)

Summary

Show

Headline CPI rose 0.1% month over month and 3.4% year over year in July.

Core CPI increased 0.2% monthly and 2.5% annually, both matching forecasts.

Bitcoin held near $64,000 following the report.

U.S. inflation in July was in line with expectations, leaving expectations for another Federal Reserve rate hike broadly unchanged.

The

Consumer Price Index (CPI) rose 0.1% in July from the previous month

, compared with economists’ forecast for a 0.1% increase and June’s 0.4% decline.

On a year-over-year basis, CPI rose 3.4%, in line with forecasts and slightly lower than June’s 3.5% reading.

Core CPI, which excludes food and energy, rose 0.2% month over month in July, compared with forecasts for a 0.2% increase and an unchanged reading in June. On a year-over-year basis, core CPI rose 2.5% as expected by analysts and edging lower from June’s 2.6%.

Bitcoin

BTC

$

64,079.44

fell from $64,400 to $64,080 in a knee-jerk reaction before stabilizing, still largely flat over 24 hours. Nasdaq 100 futures traded 0.7% higher.

Treasury yields remained under pressure, maintaining pre-CPI weakness. The two-year hovered at 4.19%, down 3.6 basis points on the day, and the 10-year yield stood at 4.66%, also down three basis points.

Already a key data point for markets, July’s CPI report took on added importance after a weaker-than-expected U.S. employment report showed that the economy unexpectedly

shed 23,000 jobs in July

.

Market participants are now pricing in a 44% probability that the Federal Reserve would hike interest rates at its upcoming September meeting, down from 48% odds before the inflation report, according to the

CME FedWatch Tool

. A week ago, traders put a 54% chance for a September rate hike.

Bitcoin News

Federal Reserve

Inflation

Related Assets

Bitcoin

$

64,079.44

0.31

%

Latest Crypto News

1

FlightAware drops Kalshi lawsuit over a market niche that data shows it never took off

1 hr ago

2

Russia moves to restrict retail crypto trading to bitcoin, ether and USDT

1 hr ago

3

XRP trading could get spicy after CPI report as futures bets hit highest since October

1 hr ago

4

Bitcoin holds near $64,000 as U.S. inflation data looms, Harmony exploit rattles altcoins

2 hrs ago

5

Bank of England to test stablecoin, digital currency use in cross-border finance

2 hrs ago

6

CoreWeave surges 16% on $2.58 billion revenue quarter as AI infrastructure demand eclipses crypto

3 hrs ago

7

Fidelity moves to add staking, quarterly payouts to near $900 million ether ETF

3 hrs ago

8

One overlooked group has added $1.78 billion of selling pressure to bitcoin market

4 hrs ago

9

Live updates: Bitcoin holds $64,000 as July inflation meets forecasts

5 hrs ago

10

Crypto.com rolls out tokenized stock derivatives as crypto exchanges push into equities

6 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

Bitcoin holds near $64,000 as U.S. inflation data looms, Harmony exploit rattles altcoins

CoreWeave surges 16% on $2.58 billion revenue quarter as AI infrastructure demand eclipses crypto

One overlooked group has added $1.78 billion of selling pressure to bitcoin market

More From

Bitcoin

FlightAware drops Kalshi lawsuit over a market niche that data shows it never took off

Russia moves to restrict retail crypto trading to bitcoin, ether and USDT

XRP trading could get spicy after CPI report as futures bets hit highest since October

Crypto

CD20

$1,758.71

CD20 up 0.47 percent

0.47%

BTC

$64,063.36

BTC down 0.33 percent

0.33%

ETH

$1,909.55

ETH up 1.22 percent

1.22%

XRP

$1.02

XRP up 1.30 percent

1.30%

SOL

$76.57

SOL up 1.01 percent

1.01%