Inflation Eases, Crypto Path Forward Unclear as BTC Fails to Break $64K

U.S. inflation numbers for July revealed a more subdued pace of price growth, hitting 3.4% annually and rising just 0.1% month-over-month.

This moderate inflation reading is generally considered supportive for assets like Bitcoin, which tend to perform better in environments where inflation pressures are easing.

The Office of the Comptroller of the Currency (OCC) also made a significant move, announcing that eligible crypto firms can now apply for national bank charters. This development could pave the way for greater integration between the traditional banking system and the cryptocurrency space.

However, despite these promising developments, Bitcoin failed to break through the $64K barrier, slipping back below it after initially pushing above it in response to the news.