Bitcoin Surpasses $65,000 as US Inflation Data Cools

Bitcoin climbed above $65,000 on July 15, 2026, for the first time since June 22, leading a broader recovery that pushed the aggregate cryptocurrency market capitalization up 2.1 percent to $2.24 trillion. The rally followed the release of June inflation data from the Bureau of Labor Statistics, which showed the Consumer Price Index falling to an annual rate of 3.5 percent and producer price inflation dropping to -0.3 percent.

These figures increased investor confidence that the Federal Reserve System may adopt a less aggressive interest rate policy, with the CME FedWatch tool showing the likelihood of a July hike falling to 12.3 percent. The price surge was further accelerated by a short squeeze that liquidated hundreds of millions of dollars in positions, with some reports citing over $1.1 billion in total liquidations. Ethereum also gained, rising over 5% to approximately $1,880, outperforming Bitcoin over a five-day period.

Market momentum was supported by a resumption of net inflows into U.S.-listed Spot ETFs, totaling $121 million for Bitcoin and $58 million for Ethereum. Despite these gains, sentiment remains cautious as the Crypto Fear and Greed Index stays in extreme fear territory. Investors are now monitoring the potential passage of the Clarity Act and observing geopolitical tensions in the Middle East as primary risks to future upside.