Bitcoin Trades Sideways Around $63,000 Despite Slower CPI Growth [Crypto Briefing]

[Financial News] Bitcoin is trading sideways around $63,000 despite the slower rise in the U.S. Consumer Price Index (CPI). The move appears to reflect growing market caution as negotiations over the resumption of traffic through the Strait of Hormuz remain deadlocked.
According to CoinMarketCap on the 13th, Bitcoin was trading around $63,000 at 10:10 a.m., down 0.26% from the previous day on a 24-hour basis. Over the past week, Bitcoin has fallen 1.50%.
Bitcoin is trading in the 89 million won range on the Korean won market. Based on Cryprice, the Korea premium stands at -0.31%.
Even though U.S. inflation growth has slowed, high international oil prices suggest that the possibility of further interest rate hikes still remains.
The Bureau of Labor Statistics (BLS) said on the 12th local time that the CPI for July rose 3.4% from a year earlier. The figure matched market expectations and was 0.1 percentage point lower than June's 3.5% increase.
However, energy and gasoline prices last month were up 14.7% and 24.6%, respectively, from a year earlier. This suggests that energy prices, including global oil prices, remain elevated amid the prolonged conflict in the Middle East.
The CoinMarketCap Crypto Fear and Greed Index stood at 37 on the day, indicating "fear." The index ranges from 0 to 100. Values closer to 0 indicate "extreme fear," while those closer to 100 indicate "extreme greed."
At the same time, Ethereum was trading around $1,880, down 0.16% from the previous day. Ripple was trading around $1.00, down 1.83%.

[email protected] Im Sang-hyeok Reporter