Bitcoin Rises to $63,400 After U.S. June CPI Falls 0.4%, Missing Forecasts

U.S. June CPI fell 0.4%, well below economists’ expectations for a 0.1% decline, while core CPI was flat versus forecasts for a 0.2% increase. According to NS3.AI, Bitcoin rose to $63,400 following the softer-than-expected inflation data. The report contrasted with recent interest-rate expectations tracked in derivatives markets. CME FedWatch indicated that July rate hike probabilities had climbed to as high as 42% yesterday.