Bitcoin Holds Ground Above $64K Ahead of Crucial Inflation Print

The Bitcoin (BTC) price has been holding steady above $64K after briefly touching $65,400 in early trading on August 10. The question is whether Wednesday's inflation print will turn this into a real move or send BTC back to the low $64,000s.

Friday's payroll data showed the US economy shed 23,000 nonfarm jobs in July, with unemployment holding at 4.1% and a combined 103,000 jobs erased from May and June revisions. This weak hiring cooled expectations for further Fed tightening, causing BTC to gain nearly 2% on the initial reaction.

Institutional flows are backing the bid, with CoinGlass clocking $854M in net spot ETF inflows from August 3-7. The next macro catalyst lands Wednesday at 8:30 a.m. ET, when the July CPI report either confirms the disinflation narrative or forces traders to reprice rate-cut odds.

BTC's current range sits between support near $64,700, $64,800 and resistance stacked at $65,300, $66,300. A soft CPI print could extend the payroll-driven rally, ETF inflows continue, and BTC clears $65,469 to test $67,000.