Bitcoin Price Falls Below $64K as US CPI Fails to Spark Breakout

Bitcoin's price fell below $64K after US CPI data failed to spark a breakout. The asset dropped nearly 3% from an intraday high of $65,234 to $63,304.

The US Bureau of Labor Statistics reported that headline inflation rose 0.1% month-over-month and slowed to 3.4% annually from 3.5% in June.

CoinEx Chief Analyst Jeff Ko told crypto.news that the figures produced only a limited change in financial conditions, with Treasury yields declining after the release but remaining elevated near 4.68%.

Bitcoin's inability to hold above $65,000 supports a 'sell-the-news' interpretation, with traders having already accounted for the inflation slowdown before the official report arrived.