Why Bitcoin Barely Moved Even as US Inflation Cools to 3.4%
U.S. inflation cooled in July, with CPI rising 0.1% month over month and 3.4% year over year, matching forecasts. Shelter drove most of the increase, while energy fell 1.5%. Core CPI rose 0.2% on the month and 2.5% annually, still above the Fed’s 2% target. Markets largely ignored the print because it was already priced in. Bitcoin barely moved, rising about 0.33% to around $63,750, and total crypto market value slipped slightly. The data did not change expectations for Fed policy, since inflation remains too high to imply near-term easing. Crypto had already rallied on softer rate expectations, helped by strong spot Bitcoin ETF inflows last week. But Bitcoin remains technically weak, stuck between roughly $62,000 and $67,000 after an early-August selloff, with bearish moving-average signals and limited momentum.
