Crypto

July CPI Report Sends Gold Soaring, But Bitcoin Remains on Edge

Guavy AI Editorial Team Published August 12, 2026

Instruments

BTC

The July Consumer Price Index (CPI) report showed a slower-than-expected inflation rate of 3.4%, down from 3.5% in June.

This caused a significant shift in market expectations, with the odds of a September Fed interest rate hike plummeting to 61.9%

The gold price rose 0.5% to $4,436 per ounce, while cryptocurrencies also saw an increase, with Bitcoin (BTC) up 0.6% to $64,051.

However, economist Peter Schiff disputed the interpretation of the data, arguing that July's CPI still reflects May's oil price crash, not July's rebound at the pump.

CryptoQuant's adjusted Net Unrealized Profit/Loss (aNUPL) measure shows a rare pattern: committed investors are deeper in the red than the market as a whole. This has appeared before major cycle lows in 2018 and 2022.

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