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Bitcoin rebounds to $65,000 as cooling CPI reduces expectations of a July rate hike

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Crypto界网 news: After U.S. inflation data came in below expectations, Bitcoin rebounded to the $65,000 level. According to data from the U.S. Bureau of Labor Statistics, the June Consumer Price Index (CPI) rose 3.5% year over year, below economists’ expectations of 3.8%. Monthly CPI fell 0.4%, versus expectations for a 0.1% decline. This inflation report triggered a rise in risk assets and helped Bitcoin recover from losses tied to geopolitical tensions between the United States and Iran. On July 14, Bitcoin jumped nearly 5% to a intraday high of $64,830, before slipping to $64,560. Core inflation data was also below expectations: core CPI increased 2.6% year over year, in line with the 2.8% forecast. The latest figures improved versus May, when headline CPI was 4.2% and core CPI was 2.9%. Despite ongoing tensions in the Middle East, inflation pressure appears to be easing. Based on CME FedWatch data, traders now assign only a 16.6% probability to a July Fed rate hike. Data from prediction markets shows the probability of a July hike has dropped to 9%, down from as high as 34%.
BTC3.12%
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MoonlightMineralWater
· 9h ago
Core CPI at 2.6% is below expectations. Inflation pressure is indeed easing, but uncertainty from the Middle East is still ongoing, so short-term volatility is unavoidable.
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AuroraStone
· 9h ago
CPI cools off, and the FedWatch probability of a July rate hike is directly cut to 16.6%. Risk assets are all celebrating wildly—how long can this rebound last?
View OriginalReply0

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