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Crypto

Bitcoin battles around $63,500 level as downside risk grows on fading rebound momentum

Bitcoin slid to around $63,500 despite U.S. July consumer prices matching expectations. The market has increasingly priced in the possibility that the Federal Reserve will hold rates steady in September, but traders are focused on whether bitcoin can keep the $63,000 support level. CME FedWatch put the probability of a September hold at 60 percent. Investors are watching July producer prices due on Aug. 14 and option markets still show demand for downside protection.

Crypto

Bitcoin largely flat despite cooling U.S. inflation, rebound capped in $63,000 range

Bitcoin edged up only slightly in the $63,000 range even as U.S. July inflation cooled to 3.4 percent. Markets did not treat the consumer price index as a new variable and cryptocurrencies showed no clear direction. The Bureau of Labor Statistics said CPI rose 0.1 percent on the month, matching expectations, while shelter costs led gains and energy fell. Analysts pointed to priced-in rate-cut expectations, ongoing technical weakness and limited shifts in prediction markets.

Industry

Saemangeum to become physical AI, robotics hub; Han PM says Hyundai Motor investment begins new direction

South Korean Prime Minister Han Sung-sook (한성숙) visited Saemangeum in North Jeolla province as her first trip to the region since taking office and discussed support for Hyundai Motor Group investment and measures to foster physical AI and robotics industries. She held a corporate meeting with tenant firms, experts, government ministries and provincial officials. The government plans to revise the Saemangeum master plan around a concrete 10-year development blueprint and set up a pan-government support system.