Bitcoin Slips to $63,500 as Traders Shift Focus to Fed’s Upcoming Decisions

Bitcoin fell to around 63,700 dollars today, down more than half a percent for the day and nearly 2 percent for the week, after an in-line US inflation report eased immediate concerns but failed to trigger a broader market rally.

Mixed Performance Across Crypto Markets

Hyperliquid’s HYPE token stood out with a gain of over 3.1%, reaching 56 dollars, though it remained flat for the week. Other major tokens declined, with Dogecoin down nearly 3%, XRP falling over 1.1%, and BNB, Solana and Ether all posting modest losses.

Inflation Data Meets Expectations

July’s inflation figures matched economist forecasts, with headline inflation rising 0.1 percent monthly and 3.4 percent annually. Core inflation, which excludes food and energy, rose 0.2 percent and eased to 2.5 percent yearly. Following the release, odds of a Federal Reserve rate hike in September dropped to about 38 percent from 46 percent, while gold, ether and bitcoin all saw modest gains.

Analysts Say Bigger Moves Require Bigger Surprises

According to Gabe Selby, head of research at CF Benchmarks, bitcoin tends to react most strongly when inflation data significantly shifts rate expectations. He noted that an in-line report mainly removes uncertainty rather than creating momentum, with the next major catalysts being the Jackson Hole gathering, the September jobs report, and the next inflation release in September.