Bitcoin Holds Steady at $64K Amid Soft US Inflation

Bitcoin's price struggled to hold above $64,000 despite July's US inflation rate matching market forecasts. The consumer prices rose 3.4% year over year, down from 3.5% in June and aligning with expectations.

The cryptocurrency initially faced selling pressure after the inflation report but remained close to the $64,000 level, limiting the immediate downside following the macro event.

Expectations for a September rate increase fell to about 34% after the CPI figures, roughly half the level recorded in late July. US stock futures also moved higher as softer annual inflation reduced expectations that the Federal Reserve would need to tighten monetary policy further at its September meeting.