THE BLOCK: Bitcoin tops $63,700 as U.S. June CPI posts biggest monthly drop since 2020

AI Market Summary

A materially softer US June CPI print (headline -0.4% m/m; core flat, 2.6% y/y) reduced expectations of a hawkish Fed, triggering a sharp risk-on response in crypto as desks had positioned for tighter policy risks tied to Middle East-driven oil inflation. Bitcoin pushing above 63,700 highlights sensitivity to US macro data and near-term easing in real-rate headwinds for digital assets.

Impact level

● High

Affected assets

BTC/USDT+3.58%

AI Insight · BTC/USDTAI Insight

▲ Bullish

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THE BLOCK: Bitcoin rose above $63,700 after U.S. inflation data for June came in cooler than expected. Headline CPI fell 0.4% on the month, the steepest monthly decline since 2020, while core inflation was unchanged, with the annual core rate at 2.6%. Analysts said crypto trading desks had spent the week positioning for a more hawkish Federal Reserve stance amid Middle East-driven oil concerns, but the CPI print arrived softer than any of their models projected.

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