Bitcoin holds near $64,000 as July CPI matches forecasts

The US Bureau of Labor Statistics reported the Consumer Price Index rose 0.1 percent in July, holding the annual rate at 3.4 percent, in line with Dow Jones consensus forecasts. Core CPI, which excludes food and energy, rose 0.2 percent for the month and 2.5 percent annually, also matching forecasts and down 0.1 percentage point from June. Energy prices fell 1.5 percent following a 5.7 percent drop in June, while shelter costs, up 0.1 percent, accounted for roughly two-thirds of the monthly increase in the all-items index.

Bitcoin had dipped toward $63,200 in the hours before the report, a level traders were watching as support after a bout of leveraged-position liquidations, before recovering back above $64,000 once the data crossed. Ether moved little through the release, holding near its recent range.

A CPI print matching consensus to the decimal removes the usual excuse for a sharp move in either direction, which is why the market's reaction was silence rather than a rally or a selloff.