Bitcoin Stalls at $64K While HYPE and ZEC Lead Gains
TL;DR
- Bitcoin Range: BTC holds $63,300 after repeated rejections at $64,400 and muted CPI reaction.
- Futures Pressure: XRP, ADA, and BCH show strong bearish positioning with negative CVD and weak funding rates.
- Altcoin Split: HYPE, ZEC, XMR, and several mid-caps outperform while ETH, XRP, DOGE, SOL, and others decline.
Bitcoin hovered near $63,300 on Thursday as July’s in‑line U.S. inflation data helped stabilize sentiment but failed to spark a decisive market reaction. The asset’s latest recovery attempt toward $64,400 stalled once again, extending a week-long pattern of brief rallies followed by sharp rejections. Broader crypto market performance remained mixed, with select mid-cap tokens posting gains while several large-cap alts slipped deeper into the red.
Bitcoin Stuck Between Tight Boundaries After Repeated Rejections
The largest cryptocurrency has added just 0.30% since midnight UTC, reflecting a muted response to July CPI, which landed at 3.4% year over year and matched expectations. Core inflation eased slightly to 2.5%. Even so, bitcoin’s attempts to reclaim higher ground repeatedly failed. After last week’s run from $62,200 to over $65,000, BTC faced multiple rejections at $65,400, each followed by swift drops toward $63,200.
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