Bitcoin Soars on Matched Inflation Expectations, But Analysts See Different Influences Ahead

Bitcoin's price rose to around $64,100 after the latest U.S. inflation data showed the Consumer Price Index (CPI) increased 3.4% annually in July.

This figure is slightly down from June's 3.5%, but matched market expectations, leading traders to largely maintain their view that the Federal Reserve will keep interest rates steady in September.

Analysts noted that without a strong inflation-driven catalyst, Bitcoin's price will now be more influenced by ETF flows, liquidity, and derivatives positioning.

The market is awaiting the upcoming Producer Price Index (PPI) data for further inflation signals that could affect Fed policy and crypto prices.