US CPI Holds Steady, Bitcoin Stabilizes Near $64K: Market Outlook Shifts

U.S. inflation data for July met expectations, easing some of the uncertainty around the Fed’s rate path and anchoring Bitcoin around the $64,000 mark.

Inflation Numbers and Market Reaction

July’s Consumer Price Index (CPI) rose 0.1% month‑over‑month, matching forecasts, while the year‑over‑year figure settled at 3.4%, also in line with analysts’ projections. Core CPI increased 0.2% MoM and 2.5% YoY, exactly as predicted.

■Monthly CPI: +0.1% (forecast +0.1%)

■Annual CPI: +3.4% (forecast +3.4%)

■Monthly Core CPI: +0.2% (forecast +0.2%)

■Annual Core CPI: +2.5% (forecast +2.5%)

The lack of an inflation surprise removed one of the biggest near‑term threats to risk assets, yet the report alone was not soft enough to spark a major dovish repricing by the Federal Reserve.

Bitcoin’s Quiet Drift Amid Stable Liquidity

Bitcoin (BTC) slipped from $64,400 to a low of $64,080 before settling at $63,272.67, showing virtually flat movement over the past 24 hours.

■Opening Price: $64,400

■Low Dip: $64,080

■Closing Price: $63,272.67

■24‑Hour Change: 0.0% (stable)

The muted price action mirrors the limited impact of the CPI data on traditional markets.

Interest‑Rate Outlook and the Fed’s Tactical Play

The CME FedWatch Tool now assigns a 44% probability to a rate hike at the September meeting, down from 48% before the CPI release and a notable decline from the 54% odds a week earlier.

■Sept. Rate‑Hike Probability: 44% (previous 48%)

■2‑Year Treasury Yield: 4.19% (‑3.6 bp)

■10‑Year Treasury Yield: 4.66% (‑3.0 bp)

These figures suggest markets remain sensitive to the Fed’s tightening stance, but the removal of an inflation surprise has slightly softened risk appetite.

Zcash’s Tachyon Upgrade: A Signal for Privacy‑Coin Evolution

Within the crypto ecosystem, Zcash is rolling out the Tachyon upgrade to boost shielded‑payment scalability, improve quantum‑readiness, and stress‑test its funding, security, and governance models.

■Upgrade Goal: Scalability & quantum readiness

■Test Areas: Funding, security, governance

■Market Implication: Potential uptick in privacy‑token interest

Deniz Arel – Director of Crypto Regulation & Compliance

The CPI’s alignment with forecasts could delay an immediate Fed hike, creating a more accommodating environment for institutional crypto exposure. Nonetheless, projects like Zcash that prioritize privacy still face heightened regulatory scrutiny; full compliance with MiCA and SEC frameworks will be essential for risk‑averse investors. Bitcoin’s steadiness reinforces its role as a “safe‑haven” within risk‑on portfolios, while evolving rate expectations and inflation dynamics will continue to reshape digital‑asset return profiles.