US July CPI landed at 3.4% YoY, matching expectations. Treasury yields moved lower, and September Fed rate-pause odds rose to roughly 60%. BTC held near $63–64K instead of rallying sharply, suggesting the print was largely priced in.
Matters because: In-line inflation reduces near-term Fed uncertainty and may support risk-asset stability, though BTC’s muted reaction shows this is not a strong standalone bullish catalyst.