Bitcoin reclaims $64K as analysts assess what 3.4% CPI means for Fed policy

Bitcoin reclaimed $64,000 after U.S. inflation eased to 3.4% in July, while market leaders said the in-line reading left the Federal Reserve’s policy outlook largely unchanged. Summary U.S. CPI rose 3.4% annually in July, easing from 3.5% in June. Bitcoin recovered from roughly $63,400 to $64,100 after the inflation report. Polymarket traders assigned a 67% probability to no rate change in September. Analysts said ETF flows, liquidity, and derivatives positioning may now regain influence. The U.S. Bureau of Labor Statistics reported on Aug. 12 that the Consumer Price Index rose 0.1% month over month in July and 3.4% from a year earlier. Both readings matched market expectations. Core CPI, which removes volatile food and energy prices, increased 0.2% during the month and 2.5% annually. The yearly core rate slowed from 2.6% in June, while headline inflation eased from 3.5%. Bitcoin rebounds after in-line CPI report Bitcoin (BTC) rose to around $64,100 following the release, recovering from an intraday low near $63,400, according to data from crypto.news. The move offered some relief after uncertainty over the U.S.-Iran conflict and the Strait of Hormuz pressured crypto and other risk...