BTC price news: Bitcoin slips near $63,500 as traders look past CPI to Fed’s next tests

Bitcoin fell to near $63,500 on Thursday, down over half a percent on the day and almost 2% on the week, as an in-line U.S. inflation report proved enough to calm nerves but not enough to move the market.

Hyperliquid's HYPE was the standout, up over 3% to $56 though flat on the week. Tron added marginally to just under 34 cents and is up 2% over seven days. Everything else fell. Dogecoin dropped almost 3% to 7 cents, XRP over 1% to $1 and is down almost 5% on the week, BNB over 1% to $610, solana under 1% to $76 and ether marginally to $1,880.

July's numbers landed almost exactly where economists expected. Headline inflation rose 0.1% on the month and 3.4% on the year, with the core measure that strips out food and energy up 0.2% and easing to 2.5%.

That was enough to trim the odds of a Federal Reserve rate rise in September, which futures markets cut to about 38% from 46% before the release. Gold rose 1.3% in the immediate aftermath, ether just over 1%, bitcoin around half a percent and S&P 500 futures 0.2%.