Bitcoin Falls Below $63,000 as CPI Fails to Spark Relief Rally

Bitcoin closed the week at roughly $62,990, down 2.7%, after an in-line July inflation print failed to trigger the expected relief rally. Spot Bitcoin ETFs reversed from their strongest inflow week since April into consecutive days of outflows, and XRP briefly traded below $1 for the first time in nearly two years following a cross-chain bridge exploit.

The structural developments carried more weight than the price action. Goldman Sachs agreed to acquire NEOS Investments for up to $2.25 billion, gaining three crypto income ETFs. Riot Platforms sold 4,300 BTC to fund AI data center expansion. Grayscale withdrew three altcoin ETF registrations days before one of the underlying assets cleared its regulatory threshold. Both major US regulatory catalysts, meanwhile, slipped to September.

Below is a summary of the week's key developments across prices, flows, corporate activity and regulation.

Bitcoin price today after this week's crypto market drop

$Bitcoin is trading around $62,990 on Sunday morning, down 2.7% over the week, with the total crypto market cap holding near $2.19 trillion. Bitcoin fell 2.39% between 7 and 14 August, with five of seven trading sessions ending in negative territory, while Ethereum dropped 1.71%. The slide extended into the weekend, with BTC dipping as low as $62,812 on Saturday before stabilizing.