finance
Bitcoin Rises 3.6 Percent to Near $64,800 as June Inflation Eases but Core Rate Stays Above Fed Target
Bitcoin climbed to near $64,800 on July 15 after U.S. inflation readings cooled more than expected. The data cut market odds of a Federal Reserve rate hike this month from 43 percent to 13 percent.
Jul 15, 1:19 AM·1m read1 source
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Bitcoin rose about 3.6 percent to near $64,800 on July 15 after June headline inflation slowed to 3.5 percent from 4.2 percent and core inflation eased to 2.6 percent from 2.9 percent. CoinDesk reported the move came as traders reduced bets on an immediate Federal Reserve rate increase. The implied probability of a rate hike this month fell from 43 percent to 13 percent after the release.
The two-year Treasury yield dropped six basis points. Bitcoin recorded about $31 billion in 24-hour volume. Ether advanced 5.3 percent to nearly $1,880 and gained 7.1 percent over the prior seven days.
Hyperliquid's HYPE token rose 6.4 percent to $67, XRP added 3.7 percent to $1.10, Solana climbed 3.6 percent to $78, Dogecoin gained 2.9 percent and BNB increased 1.9 percent to $579. Brent crude oil rose 1 percent to above $85 per barrel and has advanced 11 percent over the two sessions ending July 15.
The MSCI Asia Pacific equity gauge gained 2.3 percent, South Korea's Kospi index jumped 8.2 percent and SK Hynix shares rose 13 percent in Seoul.
"Bitcoin remains a rate-sensitive risk asset rather than a macro hedge," said Jeff Ko, chief analyst at CoinEx. He noted that core inflation at 2.6 percent remains above the Fed's 2 percent target and pointed to the September FOMC meeting as the next major test along with the direction of the dollar and bitcoin ETF flows.
