Bitcoin Surges Past $65,000 as CPI Data Cools Rate Hike Fears — $70K in Sight
Bitcoin surged past $65,000** for the first time in over three weeks, hitting **$65,399 at one point, after softer-than-expected U.S. inflation data sharply lowered odds of a July Fed rate hike. June CPI came in at 3.5% (down from 4.2%), with the monthly reading declining for the first time in six years. BTC is trading near $64,740 (+3.3%)** , while ETH gained **4.92% to $1,869. Analysts now suggest that if BTC can close above $65,000 on a 4-hour candle, a push toward **$70,000** could be on the cards. Over $300 million was liquidated in 24 hours, with bearish short traders bearing the brunt of losses.
Risk reminder: $65,000 remains a key resistance level. ETF flows have shown no clear direction this month, alternating between inflows and outflows almost every other trading day.
