Bitcoin Stalls Near $64K as July CPI Eases to 3.4%, Altcoins Gain Selective Ground

On Thursday (Aug 12), Bitcoin held near $63,000–$64,000 as softer U.S. inflation data eased rate-hike concerns but failed to ignite broad risk appetite, according to market data. July consumer inflation rose 0.1% month over month and 3.4% year over year, while core CPI eased to 2.5%, reinforcing the disinflation trend.

Total crypto market capitalization hovered around $2.16 trillion, consolidating below its 50-period exponential moving average. Bitcoin dominance declined to 59.06%, suggesting selective capital rotation toward altcoins such as Hyperliquid's HYPE, which held support near $54 and traded around $57.58. Traders remained cautious despite the supportive macro backdrop, with the market awaiting stronger catalysts such as a meaningful shift in Federal Reserve expectations or fresh ETF inflows.