Bitcoin caught a macro lift after a cooler-than-expected US inflation report. The Labor Department said consumer prices fell 0.4% in June from the previous month, the sharpest monthly decline since 2020, while the annual inflation rate slowed to 3.5%. Bitcoin then pushed toward $64,000.
The price coils between support at $61,751 and resistance at $64,918. On the move higher, Bitcoin prints a last trade just under $64,000, closing at $64,713, pressing straight at resistance.
That move toward resistance followed a cooler-than-expected inflation print that eased near-term rate fears. Bitcoin rose alongside a broader market reaction, with equities rallying and gold rising on the same data.
The setup also mattered: long positioning in crypto had already thinned out, reducing crowding and leaving more room for fresh buying to move price. With resistance reset higher, the next checkpoint is whether Bitcoin can sustain a move near the top of its recent range.