Bitcoin Trades Near $64,900 After US Inflation Cools to 3.5%, Reviving Fed Rate-Cut Bets

Headline consumer prices rose 3.5% in June against a 3.8% forecast, though a hawkish Federal Reserve chair and Strait of Hormuz tensions kept Bitcoin below $65,000.

Bitcoin climbed toward $65,000 on July 14 after United States inflation data came in below forecasts, reviving expectations that the Federal Reserve will hold off on further tightening. Consumer prices rose 3.5% year over year against a 3.8…