Bitcoin Holds Near $63,500 as CPI Data Fails to Spark Breakout — $176 Million Liquidated
Bitcoin is trading near $63,537 (-0.33%)**, while Ethereum sits at **$1,879 (-0.16%). The U.S. July CPI came in at 3.4% YoY, in line with expectations and down from 3.5% previously. BTC briefly spiked to $64,400–$64,500 after the release but failed to break through and quickly gave back its gains. Over $176 million** was liquidated in 24 hours, with shorts slightly dominating at **$93.87 million versus longs at $82.43 million**. The **Fear & Greed Index** rose to **29** (Fear), up from 27. Trading volume remains weak, with BTC range-bound between **$62,000–$65,000** and no breakout imminent. Resistance sits at **$64,104 (SMA20) and $65,460**; support at **$63,393 (SMA50) and $62,748.
Risk reminder: A break below $63,393 could accelerate selling toward $62,748. CPI relief was short-lived — geopolitical risks and weak volume continue to cap upside.
