US Inflation Cools to 3.4% Year-Over-Year
US July CPI inflation cooled to 3.4% year-over-year from 3.5% in June
5% in June. 39 million. 89 million from spot Bitcoin ETFs on Tuesday. 8 million.
In the past 24 hours, top gainers include Bitway, NEAR Protocol and Stable. Notable Developments: Gold and BTC 'React Differently' to Inflation, Schiff Says: So Why Is Their Correlation Rising? Bitcoin 'Ignoring Bad News' Signals We're at the Bottom of Crypto Winter, Bitwise Exec Says Hyperliquid Pushes for US Perpetual Futures Access: How Did PURR, THYP React? Tom Lee's BitMine Is Close to Owning 5% of All ETH: What Happens to BMNR When It Does?
Are Bitcoin Miners Abandoning Mining for AI? Riot's Anthropic Deal Has the Answer CLARITY Act's Failure Is 'Ironic,' ETF Expert Says: 'Will Result in President Trump's SEC Doing Whatever They Want' Trader Notes: CryptosBatman explained Bitcoin remains range-bound between $62,500 support and $65,400 resistance after bouncing from the lower end. Recovering MFI flashes improving momentum, but a reclaim of the 200 EMA near $64,300 followed by a break above $65,400 is needed to strengthen the bullish setup. Trader KillaXBT sees current Bitcoin levels as a potentially generational buying opportunity.
He argues that investors rotating toward AI could eventually return to BTC at much higher prices. Bitcoin is expected to trade above $160,000 by 2029. Trader Rekt Capital highlighted that Bitcoin risks turning a modestly positive August into a negative month. The analyst notes that this would align with the historically bearish August performance seen during bear markets.
Image: Shutterstock