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

MarketsBitcoin slips near $63,500 as traders look past CPI to Fed’s next testsAn 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 Malwa2 hrs ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin 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 Benchmar…

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

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