$BTC IGNORES COOL CPI DATA – $64K RESISTANCE REJECTED AS MARKET REMAINS STUCK IN RANGE



Bitcoin is trading sideways around $63,400, showing almost no reaction to the U.S. Consumer Price Index (CPI) report – despite the data easing rate hike expectations and fueling a rally in U.S. equities .

The disconnect: The Nasdaq rose 0.54% and the S&P 500 gained 0.26% on the CPI news. But Bitcoin briefly touched $64,400–$64,500 after the release, failed to hold, and quickly gave back its gains .

July CPI rose 3.4% YoY, matching expectations and down from 3.5% in June. Yet elevated energy prices – gasoline up 24.6% YoY – suggest the risk of further rate hikes persists .

The macro backdrop: CME FedWatch now shows a 60% probability of a September rate hold, up from 30% a month ago. Rate hike fears have eased – but so have rate cut hopes. For crypto, that means a "neutral" environment with no new catalysts to drive a breakout .

👇 Do you think Bitcoin will break out of its range soon? Type BREAKOUT or RANGE-BOUND.
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