Bitcoin jumped to $65,500 on July 15 after June CPI came in at 3.5% year-over-year, below the 3.8% forecast, while core CPI eased to 2.6%. The move triggered about $300 million in short liquidations and pushed Fed rate-hike odds from 43% to 13%.
Matters because: Cooling inflation removes a key macro headwind for BTC and risk assets, with the September FOMC now the next major checkpoint.