Bitcoin rallies to near $65,000 on softer US inflation

July 15, 2026 (MLN): Bitcoin advanced to nearly $64,800 on Wednesday, which marks its strongest session in weeks, as softer-than-expected US inflation data led traders to unwind expectations of a Federal Reserve rate hike this month.

Headline inflation for June slowed to 3.5% from 4.2% a month earlier, while core inflation, which excludes volatile food and energy prices, moderated to 2.6% from 2.9%.

The decline in the core figure indicated that the disinflationary trend was broad-based rather than driven solely by energy costs, weakening the case for additional monetary tightening.

Bitcoin gained 3.6% in the past 24 hours and 3.3% over the week, with trading volume of around $31 billion, according to coindesk.

Ether led gains among major tokens, rising 5.3% on the day and 7.1% over the past seven sessions to trade close to $1,880.

Elsewhere in the crypto market, Hyperliquid's HYPE advanced 6.4% to $67, XRP gained 3.7% to $1.10, and Solana rose 3.6% to $78. Dogecoin added 2.9%, while BNB climbed 1.9% to $579.

Elevated interest rates typically dampen demand for bitcoin and other risk assets, as higher yields on cash and government bonds diminish the relative appeal of non-yielding, volatile holdings.

Conversely, a cooling inflation trajectory lessens the likelihood of further rate hikes, easing that pressure and encouraging renewed inflows into riskier assets, including cryptocurrencies.

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