Bitcoin Holds Steady Near $64K as DOGE Gains 3%
Bitcoin's price held steady near $64K on Wednesday as investors awaited the July U.S. inflation report, while Dogecoin led major cryptocurrencies higher with a 3% gain.
The July CPI reading is set to be released at 8:30 a.m. ET and is expected to show consumer prices rising 0.1% from June, with annual inflation easing to 3.4%, according to economists surveyed by Reuters.
Brent crude oil rose for a sixth consecutive session, trading near $89.60 to $89.70 a barrel early Wednesday, which could keep future inflation concerns elevated.
U.S. spot Bitcoin ETFs recorded $7.8 million in net inflows on Tuesday after Monday's five-day streak of outflows, but the reversal follows a stronger opening week for August with funds attracting $853.5 million in inflows from Aug. 3 through Aug. 7.