
Bitcoin pushes toward $65,000 on US inflation relief that may already be fading
BTC jumped after a softer CPI report, though escalating US-Iran hostilities could revive inflation and rate concerns.
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Bitcoin ETF demand faltered as withdrawals from IBIT and FBTC overwhelmed the previous week’s inflows.

Fed Chair Kevin Warsh faces the House Financial Services Committee 90 minutes after the June CPI release, and his interpretation of the data will carry more weight than the data.

Major financial institutions are building Bitcoin products, custody, and infrastructure, while Bitwise estimates individuals hold about 13.9 million BTC.

Bitcoin faces a 7.5-hour macro stress test as CPI, Fed testimony and renewed Hormuz enforcement threaten to redraw the path around $62,000.

Polymarket odds imply only a 3% chance that Hormuz traffic returns to normal by July 31 as crude approaches $80 a barrel.

BTC fell below $63,000 after new U.S. strikes as oil, the dollar and yields rose and equity futures retreated.



