Bitcoins 63k fight as CPI calms Fed rate fears

Bitcoin (BTC) dipped below $63,500 on Wednesday, August 12, 2026, erasing earlier daily gains despite a seemingly favorable US inflation report. This unexpected price weakness emerged as the July Consumer Price Index (CPI) report matched market expectations, significantly bolstering the probability of a Federal Reserve interest rate pause.The in-line CPI print, coupled with recent weak labor market figures, pushed the odds of the Fed holding rates steady in September to 60%. Yet, this broader ma