Bitcoin Opens Near $65,000 After Softer CPI as 2026 Food Prices Still Seen Rising 3.2%
Updated
Updated · Crypto Briefing · Jul 22
Bitcoin Opens Near $65,000 After Softer CPI as 2026 Food Prices Still Seen Rising 3.2%
1 articles · Updated · Crypto Briefing · Jul 22
Summary
$65,000 Bitcoin and higher Ethereum prices followed softer U.S. CPI readings in July 2026, extending gains as traders bet cooling inflation could ease pressure for high interest rates.
4.2% overall CPI growth through May still points to elevated inflation, even as food inflation slowed to 3.0% year over year in June from 3.1% in May.
USDA forecasts food prices will rise 3.2% in 2026, with food-at-home up 2.8% and restaurant prices up 3.6%, a mix that could keep headline inflation sticky.
Producer prices offer a more benign signal: food-related PPI fell 0.6% and fresh vegetables dropped 6.0%, leaving crypto traders watching whether those upstream declines reach consumers in the second half.