Key facts
- Bitcoin traded near $63,500 to $64,000.
- U.S. inflation data, including CPI and PCE, met expectations.
- The inflation data eased concerns about Federal Reserve interest rate hikes.
- Most major digital assets declined following the inflation report.
- A significant exploit occurred on the Harmony blockchain.
- Billions of ONE tokens were minted on the Harmony blockchain.
- The ONE token plummeted in value due to the exploit.
- The exploit highlighted altcoin market vulnerability.
Bitcoin's price hovered around $63,500 to $64,000 in the wake of the U.S. inflation report. The Consumer Price Index (CPI) and the Personal Consumption Expenditures (PCE) price index both met expectations, indicating a moderation in inflation. This data eased concerns among traders regarding the Federal Reserve's potential for further interest rate hikes, suggesting a stable interest rate environment. Despite the inflation data aligning with expectations, it failed to ignite a broad rally across the cryptocurrency market. Most major digital assets experienced declines, with only a few exceptions showing marginal gains.