Bitcoin Bounces to $64,968 on July 15 as U.S. CPI Misses Expectations, Fed Rate Hike Odds Fall to 15.5%

According to CoinGecko, Bitcoin bounced to $64,968 on July 15 morning, up 4.4% in 24 hours and reaching levels not seen since June 22. The move was driven by U.S. inflation data released on July 14: the June Consumer Price Index rose 3.5% year-over-year, missing market expectations of 3.8%, and fell 0.4% month-over-month, marking the largest monthly decline since 2020.

The softer inflation reading eased Federal Reserve rate-hike concerns. According to CME FedWatch, the probability of a 0.25 percentage-point rate increase at the July Federal Open Market Committee meeting dropped from 41.7% before the CPI release to 15.5% afterward, prompting risk-asset demand to recover across digital assets.