Bitcoin price nears $65K as US PCE cools to 3.7%

Bitcoin price moved back toward $65,000 on Thursday after softer U.S. inflation data eased fears of another Federal Reserve rate hike, although renewed U.S.–Iran fighting kept traders cautious. Summary Bitcoin price gained 1.2% to nearly $65,000 after falling as low as $63,252 during the session. Annual headline PCE inflation cooled to 3.7%, while core inflation eased to 3.3%. BNB, Solana and Hyperliquid rose as the total crypto market gained 0.9%. Gold and silver also advanced as U.S.–Iran hostilities supported demand for defensive assets. Bitcoin price approaches $65K after PCE release Bitcoin rose to an intraday high of approximately $65,040 after the U.S. Bureau of Economic Analysis published its June Personal Consumption Expenditures report. The cryptocurrency later traded near $64,804, representing a 1.2% gain over 24 hours, per data from crypto.news. Bitcoin price chart — July 30 | Source: crypto.news The move marked a recovery from an intraday low of $63,252. Bitcoin had struggled to maintain upward momentum after the Federal Reserve left its benchmark interest rate between 3.5% and 3.75% for a fifth consecutive meeting. Ethereum followed Bitcoin higher, gaining 1.3% to app...