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 hits August high overnight as focus turns to U.S. CPI and PPI this week

Bitcoin rose to an August high near $65,420 ahead of the weekly close, shifting market attention to U.S. inflation data due this week. July CPI and PPI are scheduled for release on Aug. 12 and 13, after both came in below expectations last month. Analysts pointed to shifting expectations for a Fed rate hold in September. The article also highlights yen intervention, technical resistance near $65,800, mixed on-chain signals and weak spot market activity.