Core

Cryptocurrency

Bitcoin

April

<h3 id="key-highlights">Key Highlights</h3>
<ul>
 <li>June’s U.S. inflation reading dropped to 3.5% annually, significantly under the anticipated 3.8% — marking the steepest monthly decline since April 2020</li>
 <li>BTC prices jumped more than 2%, breaking through $63,000 and momentarily reaching $64,000</li>
 <li>Probability of a Federal Reserve interest rate increase at July’s meeting plummeted to 14.4% according to CME FedWatch Tool</li>
 <li>Market participants are closely monitoring the $64,800 resistance level, though some analysts caution about potential lower highs</li>
 <li>Cryptocurrency short positions faced $220 million in liquidations during the 24-hour period after the inflation announcement</li>
</ul>
<p>Bitcoin surged beyond the $64,000 threshold on Tuesday following a surprisingly benign U.S. inflation report that encouraged bullish sentiment among cryptocurrency traders.</p>
<figure class="wp-caption aligncenter"><img src="https://blockonomi.com/wp-content/uploads/2026/07/chart-15-2.webp" alt="Bitcoin (BTC) Price" width="1824" height="1248">
 <figcaption><a href="https://www.coingecko.com/en/coins/bitcoin?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price</a>
 </figcaption>
</figure>
<p>June’s Consumer Price Index registered at 3.5% on an annual basis, falling short of the projected 3.8%. The monthly reading showed a 0.4% decline, substantially better than the consensus estimate of -0.1%. Core inflation metrics similarly underperformed expectations, posting 2.6% year-over-year compared to forecasts of 2.8%.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p>BREAKING: June CPI inflation falls to 3.5%, below expectations of 3.8%</p>
  <p>Core CPI inflation falls to 2.6%, below expectations of 2.8%.</p>
  <p>Month-over-month CPI inflation fell -0.4%, the biggest monthly drop since May 2020.</p>
  <p>US stock market futures are surging on the news.</p>
  <p>— The Kobeissi Letter (@KobeissiLetter) <a href="https://x.com/KobeissiLetter/status/2077008212994253025?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2026</a></p>
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<p>According to data from the U.S. Bureau of Labor Statistics, this represents the most significant single-month CPI reduction observed since April 2020.</p>
<p>Energy costs drove the overall decline, with the energy sector index plunging 5.7% during June following a 3.9% increase the previous month. This occurred despite ongoing geopolitical tensions involving the U.S.-Iran conflict and disruptions to oil shipping routes through the Strait of Hormuz.</p>
<p>The cryptocurrency market reacted swiftly. Bitcoin advanced from its intraday bottom near $62,000 to approximately $63,700, representing a daily increase exceeding 2%. As traditional markets opened, BTC momentarily crossed the $64,000 mark.</p>
<h3 id="federal-reserve-rate-hike-expectations-collapse">Federal Reserve Rate Hike Expectations Collapse</h3>
<p>The softer-than-anticipated inflation figures dramatically reduced expectations for monetary tightening. Data from the CME FedWatch Tool indicates just a 14.4% probability of an interest rate increase at the upcoming July Federal Open Market Committee meeting. Meanwhile, decentralized prediction platform Polymarket shows July rate hike chances at merely 7%, down sharply from a recent peak of 34%.</p>
<p>The likelihood of any rate increase occurring throughout 2025 also declined on Polymarket, falling to 55% from a previous high of 71%.</p>
<p>Prominent economist Mohamed El-Erian shared his perspective on X, stating the inflation data “should help temper what had become an excessively hawkish market tilt to the monetary policy outlook.”</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p>US CPI inflation came in notably softer than expected across the board (Bloomberg table below).<br>This print should help temper what had become an excessively hawkish market tilt to the monetary policy outlook.<br>However, this softer print won't fully resolve the debate over the… <a href="https://t.co/xHwp4ikmyG" rel="noopener noreferrer nofollow">pic.twitter.com/xHwp4ikmyG</a></p>
  <p>— Mohamed A. El-Erian (@elerianm) <a href="https://x.com/elerianm/status/2077010491856015393?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2026</a></p>
 </blockquote>
</div>
<p>According to CoinGlass data, cryptocurrency short position liquidations exceeded $220 million in the day following the inflation release.</p>
<h3 id="market-analysts-exercise-caution-at-key-levels">Market Analysts Exercise Caution at Key Levels</h3>
<p>Despite the upward momentum, technical analysts aren’t declaring a definitive breakout just yet.</p>
<p>Cryptocurrency analyst Daan Crypto Trades observed on X that <a href="https://coincentral.com/bitcoin-btc-casinos/" rel="noopener noreferrer nofollow">Bitcoin</a> was “testing the top of its range regardless of all the geopolitics.” He emphasized the necessity for a confirmed closing price above current resistance levels.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p><a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> Testing the top of its range regardless of all the geopolitics and everything. Today's push was obviously fueled by the low CPI print.</p>
  <p>This range is all you need to watch in the short term right now. Need to see a confirmed close above as we're right at the resistance now. <a href="https://t.co/LTR7tadt38" rel="noopener noreferrer nofollow">https://t.co/LTR7tadt38</a><a href="https://t.co/8LwKZOCBUt" rel="noopener noreferrer nofollow">pic.twitter.com/8LwKZOCBUt</a></p>
  <p>— Daan Crypto Trades (@DaanCrypto) <a href="https://x.com/DaanCrypto/status/2077111974056349893?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2026</a></p>
 </blockquote>
</div>
<p>Trader Killa identified significant liquidity accumulation above the $64,800 mark but issued a warning: “If we can’t reclaim and hold the weekly open, this is likely just a lower high before we move down to test the $60K region.”</p>
<p>Market analyst Ted highlighted substantial selling pressure at the $65,000 level, suggesting that a decisive break above this threshold could trigger a 5–6% price surge.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p>There's a decent <a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> sell wall at $65,000.</p>
  <p>A strong breakout above this means Bitcoin could see a quick 5%-6% rally. <a href="https://t.co/5vfWD0FSmx" rel="noopener noreferrer nofollow">pic.twitter.com/5vfWD0FSmx</a></p>
  <p>— Ted (@TedPillows) <a href="https://x.com/TedPillows/status/2077076406148661604?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2026</a></p>
 </blockquote>
</div>
<p>Crypto commentator Exitpump acknowledged the short squeeze activity but characterized current conditions as “still a range trading environment.”</p>
<p>The next major catalyst arrives with the upcoming Producer Price Index release, which could introduce additional volatility to Bitcoin’s price trajectory.</p>
<p>The post <a href="https://blockonomi.com/bitcoin-btc-surges-past-64k-as-u-s-inflation-plunges-to-3-5-in-june/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Surges Past $64K as U.S. Inflation Plunges to 3.5% in June</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

Bitcoin (BTC) Surges Past $64K as U.S. Inflation Plunges to 3.5% in June

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