Bitcoin (BTC) fell below $64,000 on Wednesday after July U.S. inflation data landed exactly in line with forecasts, giving the largest cryptocurrency little reason to rally or escape the range it has occupied for weeks.
Headline consumer prices rose 3.4% year-over-year, cooling from 3.5% in June. Meanwhile, core inflation eased to 2.5% from 2.6% as both metrics matched consensus, the Bureau of Labor Statistics reported.
Bitcoin price after Aug. 12 CPI print | Image: The Block/TradingView.
A print that buys time, not clarity
The in-line reading resolved little after last week's payrolls shock, analysts said. As such, September's rate decision likely remains a genuine coin toss for the foreseeable future.
