Bitcoin Extends Gains After Lower-than-forecast U.S. Inflation Data

Dow Jones07-14 21:06

1306 GMT - Bitcoin extends its gains modestly after lower-than-expected U.S. inflation data reduce the odds of the Federal Reserve raising interest rates in the immediate term. Annual CPI inflation eased to 3.5% in June, below the 3.8% expected by economists in a WSJ survey. Core inflation also cooled to 2.6%, missing the 2.9% forecast. Markets see a much lower chance of the Fed lifting rates on July 30 and are not fully pricing a rise until December, LSEG data show. Higher rates tend to weigh on risk appetite, which is negative for cryptocurrencies. Bitcoin rises 2.6% to an intraday high of $63,785 after the data from $62,874 beforehand, according to LSEG. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

July 14, 2026 09:06 ET (13:06 GMT)

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