Bitcoin nears $65,000 as cooling U.S. inflation guts the Fed rate-hike trade
Bitcoin approached $65,000 after U.S. inflation data for June showed a larger-than-expected cooldown, with headline inflation falling to 3.5% and core inflation to 2.6%. This eased market expectations for a near-term Federal Reserve rate hike, causing the implied odds of a rate increase to drop from 43% to 13% and lowering two-year Treasury yields. The cooling inflation lifted risk assets, with bitcoin rising 3.6% and other cryptocurrencies like ether and XRP also posting gains. Analysts noted bitcoin remains sensitive to interest rate outlooks, with the September Fed meeting seen as the next critical event for the market.























