Bitcoin Plunges Below $64,000 as Inflation Fears Return

Bitcoin's price slipped below $64,000 on August 11 as traders adjusted their risk posture ahead of fresh U.S. inflation data and rising oil prices revived concerns about the Federal Reserve's interest rate path.

The decline came after Bitcoin failed to establish support above $65,000 this week, with its price trading near $63,855, down 1.6% over 24 hours.

Ethereum fell 2.2%, while XRP lost 2.1% as large-cap altcoins mostly weakened alongside Bitcoin.

However, not all assets were impacted equally, with Hyperliquid and Chainlink advancing against the broader weakness.

The upcoming U.S. inflation data release on August 12 is now a major focus for traders, who will be watching to see how it affects Treasury yields and interest rates.