Bitcoin Nears $65K on Cooling Inflation
Bitcoin rallied to nearly $65,000 this week, gaining momentum after June's headline U.S. inflation came in cooler than expected — 3.5% year-over-year versus the 3.8% economists forecast, with the core rate falling to 2.6%. This boosted crypto sentiment broadly, with Ethereum jumping over 2% and Solana also gaining, alongside a resumption of inflows into U.S. spot Bitcoin ETFs.
However, Fed Chair Kevin Warsh cautioned that one good inflation report isn't enough to declare victory, keeping the Fed's next move data-dependent — and rising oil prices (Brent crude above $85/barrel) amid Middle East tensions are complicating the inflation outlook further.
Sources: RTTNews, The Motley Fool, CoinDesk
Bitcoin rallied to nearly $65,000 this week, gaining momentum after June's headline U.S. inflation came in cooler than expected — 3.5% year-over-year versus the 3.8% economists forecast, with the core rate falling to 2.6%. This boosted crypto sentiment broadly, with Ethereum jumping over 2% and Solana also gaining, alongside a resumption of inflows into U.S. spot Bitcoin ETFs.
However, Fed Chair Kevin Warsh cautioned that one good inflation report isn't enough to declare victory, keeping the Fed's next move data-dependent — and rising oil prices (Brent crude above $85/barrel) amid Middle East tensions are complicating the inflation outlook further.
Sources: RTTNews, The Motley Fool, CoinDesk