Bitcoin Holds Near $64K Amid Softer US PPI and Rising Stocks

For crypto investors, the immediate significance is clear: when inflation prints reduce the probability of further tightening, it can improve sentiment across risk assets, including Bitcoin—even if crypto-specific drivers remain secondary in the short run.

Rate-hike bets shift, but the Fed’s tone stays careful

Rate expectations moved in tandem with the data. CME Group’s FedWatch Tool showed 65.6% odds that the Federal Open Market Committee (FOMC) would hold interest rates at the current 3.50% to 3.75% level at its September meeting. The update followed Wednesday’s July Consumer Price Index (CPI) release, which matched expectations and had already supported the “pause” narrative.

However, inflation data may not be enough on its own to settle the Fed debate. The Cleveland Federal Reserve Bank’s president, Beth Hammack, questioned whether recent cooling prints would reliably bring inflation down to the Fed’s 2% goal—and whether the time required would be acceptable. In remarks delivered at an event in Kettering, Ohio, Hammack suggested policymakers may still need continued improvement rather than assuming that favorable prints guarantee a quicker path to target.

Bloomberg reported Hammack’s remarks with the framing that even if the central bank reaches its goal, it could take another three to four years, raising the question of whether that timeline is “OK” for the committee’s outlook.

Notably, Hammack was one of three Fed officials who supported a 0.25% rate hike in July, underscoring that a cautious stance remains present even as incoming inflation data moderates.

Traders eye liquidation pressure near $61,000

Even with the macro tailwind, Bitcoin’s price action has been relatively contained. That makes positioning and liquidation levels more important when BTC approaches range extremes.

Glassnode cofounder Rafael Schultze-Kraft pointed to $61,000 as the next potential trouble spot. In an earlier Tuesday post on X, he wrote that long liquidation risk has built up around $61K over the past few weeks, and that if price reaches that area, forced selling could add momentum to the downside.

In other words, rather than relying purely on technical support as a “line in the sand,” traders may also be considering how derivatives mechanics could amplify any break. When liquidation clusters are concentrated, the market can transition quickly from a slow bleed to a sharp drop—especially if liquidity thins.

This focus on $61,000 also fits with earlier market commentary from Cointelegraph, which reported that $63,000 had started forming a key level after repeated retests increased the odds of a support failure if buyers failed to defend it.

From a trading perspective, the key implication is not that $61,000 is guaranteed to break—rather, it highlights where downside acceleration risk is most pronounced if momentum turns bearish. For spot holders and derivatives traders, that distinction matters: the level is important partly because of how it could trigger broader, mechanical selling pressure.

As of this writing, Bitcoin is still trading off the bounce from weekly weakness, but with macro expectations and Fed messaging still in flux, attention is likely to keep oscillating between inflation-driven sentiment and crypto-specific positioning.

Looking ahead, traders should monitor whether further inflation-related surprises continue to soften rate expectations—and whether BTC can hold key intraday levels without drawing price toward the liquidation pocket around $61,000. The next decisive move may come less from a single headline and more from how markets price the Fed’s timeline after each new data release.

This article was originally published as Bitcoin Stays Near $64K as US PPI Softens and Stocks Rise on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.