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Bitcoin Holds Near $64,000 as In Line US CPI Offers Little Direction

Bitcoin Holds Near $64,000 as In-Line US CPI Offers Little Direction

Bitcoin remains range-bound as traders shift focus to the US PPI report for fresh market cues.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 13 August 2026 13:44 IST

Bitcoin Holds Near $64,000 as In-Line US CPI Offers Little Direction

Photo Credit: Unsplash/Kanchanara

Major cryptocurrencies show mixed momentum as traders assess the latest market signals

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Highlights

Bitcoin has faced six rejections at $65,000 since August 5
Trading volumes remain near their lowest level in three years
Dogecoin futures open interest climbs to around $1.21 billion

Bitcoin traded near Rs. 60.8 lakh on Thursday as the cryptocurrency market remained range-bound after the latest US inflation data failed to provide a clear catalyst. Ethereum (ETH) was trading near Rs. 1.8 lakh, reflecting modest gains across some major cryptocurrencies. According to market participants, Bitcoin's brief move above Rs. 61.8 lakh reversed within hours as traders shifted their focus towards the US Producer Price Index (PPI) report due later on Thursday. As per CoinMarketCap data, Bitcoin traded near $63,700 (roughly Rs. 60.84 lakh) and Ethereum (ETH) was trading near $1,900 (roughly Rs. 1.8 lakh).

The world's largest cryptocurrency gained 0.29 percent in the last 24 hours, as per the Gadgets 360 price tracker. Analysts said the July US CPI data, which showed headline inflation cooling to 3.4 percent from 3.5 percent in June, was broadly in line with expectations and failed to establish a clear direction for Bitcoin.

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Major altcoins traded with mixed momentum on Thursday.

Binance Coin (BNB) was priced around $611.41 (roughly Rs. 58,322), while Solana (SOL) traded near $76.37 (roughly Rs. 7,285). XRP hovered around $1.01 (roughly Rs. 96), and Dogecoin (DOGE) was trading close to $0.071 (roughly Rs. 6.7), indicating mixed participation across large-cap cryptocurrencies.

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Bitcoin Remains Range-Bound After US CPI Data

Pointing to Bitcoin's repeated rejection at the $65,000 level, Prateek Gupta, Head of Business at Mudrex, said, “The in-line data failed to give the market a clear direction, and early gains reversed within hours of the release. Attention turns to US PPI, releasing later today, for the next catalyst. Bitcoin has been rejected at $65,000 (roughly Rs. 61.99 lakh) six times since August 5, making it the key resistance to watch, while $62,000 (roughly Rs. 59.14 lakh) remains the level bulls need to defend.”

Assessing the market's response to the inflation data, the CoinSwitch Markets Desk said, “Market observers described the data as giving the Federal Reserve breathing room without offering firm conviction either way [...] Flows continue to look thin and mixed; spot Bitcoin ETFs posted only modest net inflows of about $7.8 million (roughly Rs. 7.4 crore) on Tuesday, with BlackRock's IBIT accounting for most of the activity [...] Overall sentiment is neutral to cautious as traders look past the CPI print toward the wider Fed policy outlook and lingering geopolitical risks.”

Sharing his assessment of investor positioning and broader market trends, Avinash Shekhar, Co-Founder & CEO, Pi42, said, “Ethereum's evolving technical roadmap, with greater emphasis on scalability, privacy and quantum security, continues to strengthen the longer-term development narrative even as near-term price momentum remains muted [...] Investors should therefore avoid chasing short-term rallies or using excessive leverage, focus on disciplined position sizing and staggered entries, and closely track key support levels alongside macro signals.”

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Overall, analysts said Bitcoin remains range-bound after the July US CPI data came in broadly in line with expectations, and the brief move above $64,000 (roughly Rs. 61 lakh) failed to sustain momentum. Attention has now shifted to the US PPI report and broader Federal Reserve signals. At the same time, repeated rejection at $65,000 (roughly Rs. 62 lakh) and support near $62,000 (roughly Rs. 59.1 lakh) remain key levels for Bitcoin's next move.

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Cryptocurrency, Bitcoin, Ethereum, Crypto Markets

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More