Bitcoin rally cools as investors digest inflation data, oil clouds outlook
CoinDesk 2026-07-15 11:46:06
Context: Bitcoin's recent rally has stalled as investors analyze the latest US inflation data and its implications for the Federal Reserve's interest rate decisions. The cryptocurrency market is cautious, with bitcoin and ether experiencing pullbacks after initial gains. The focus now shifts to upcoming economic data, including US producer prices, to determine the market's direction.
Key Facts
- Bitcoin's price has dropped 0.5% since midnight, despite being 3% higher over 24 hours, currently trading at $64,532.45.
- The perceived odds of a Federal Reserve interest rate increase plunged from 34% to 6.7% after the release of the US inflation data, with a 93% chance of rates remaining unchanged this month.
- Ether has pulled back by 0.5% after a 4.7% gain in 24 hours, with the cryptocurrency market becoming increasingly selective in interpreting macroeconomic signals.
- Fed Chair Kevin Warsh has stated that one favorable inflation report is not enough to declare victory, and the central bank's next move will be tied to incoming data.
- The price of Brent crude has risen above $85 a barrel, keeping inflation risks elevated and adding uncertainty to the market outlook.