Bitcoin Surpasses $64,000 After US Inflation Data Dims Fed Rate-Hike Expectations

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Bitcoin climbed above $64,000 following the release of the latest US Consumer Price Index data for June. The inflation report came in cooler than expected, significantly reducing the probability of a Federal Reserve interest rate hike. Market odds of a rate hike dropped sharply from 43% to just 13% in the wake of the data. Analysts are now shifting their attention to the September FOMC meeting for clearer signals on monetary policy direction. The easing rate-hike outlook appears to have boosted investor appetite for risk assets like Bitcoin.

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