Bitcoin Price Falters Near $63,500 Amid In-Line Inflation Report

Bitcoin's price slipped to near $63,500 on Thursday, down over half a percent on the day and almost 2% on the week.

The decline came after the release of the July inflation report, which matched forecasts and eased nerves but failed to spark a broad crypto rally.

The report showed headline inflation rose 0.1% on the month and 3.4% on the year, with core measures easing to 2.5%.

Gabe Selby, head of research at CF Benchmarks, said an in-line report can remove a tail risk, but it takes a genuine surprise to create a catalyst for Bitcoin.