Bitcoin hits $65.5K as more surprise US inflation data sparks three-week BTC price high
Bitcoin rose to three-week highs near $65,500 after US inflation data came in weaker than expected for a second straight day. June PPI fell 0.3% month over month and rose 5.5% year over year, reinforcing the cooling signal from Tuesday’s softer CPI. The data improved risk sentiment and lowered market expectations for near-term Federal Reserve tightening, with September rate-hike odds shifting away from a 0.25% increase. BTC’s rally was helped by improving inflation expectations, but traders remained cautious. Key upside liquidity was noted around $65.6K and $67.2K; a break above the latter could open a path toward $70K and strengthen Bitcoin’s position within the broader $60K-$80K range. Some analysts warned BTC is approaching its 50-month EMA, a level that has previously coincided with rejection and potential late-month weakness.
