Key Takeaways
BTC maintained position around $63,900 following softer-than-anticipated US Producer Price Index data for July
Producer Price Index climbed 4.7% annually, falling short of the 4.9% consensus forecast and reducing interest rate hike concerns
Fed funds futures now indicate a 65.6% probability of unchanged rates at the upcoming September Federal Reserve meeting
Onchain analytics expert Rafael Schultze-Kraft identified $61,000 as a critical long liquidation threshold
BTC continues to face resistance in the $64,000–$65,000 zone despite multiple attempts to break through
Bitcoin maintained its position near $63,900 throughout Thursday’s trading session after United States inflation metrics arrived below market expectations, providing a modest lift to cryptocurrency markets without triggering a sustained upward breakout. Bitcoin (BTC) Price
July’s Producer Price Index from the United States registered flat on a monthly basis, falling short of economist projections calling for a 0.2% increase. Looking at the year-over-year comparison, PPI decelerated to 4.7%, undershooting the anticipated 4.9% figure. The cooler print was primarily attributed to declining gasoline costs and broader energy sector price reductions. 🇺🇸 July Inflation & Jobs Data
Core PPI MoM: 0.2% vs 0.3% est ✅
PPI MoM: 0% vs 0.2% est ✅
Initial Jobless Claims: 209k vs 202k est ❌
— TrendSpider (@TrendSpider) August 13, 2026
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Equity markets in the United States responded positively to the inflation update.
The S&P 500 index climbed 0.87% while the Nasdaq Composite advanced 0.94% during opening trades. Bitcoin mirrored this sentiment with a measured 0.5% daily increase.
Wednesday’s Consumer Price Index release for July had similarly aligned with forecasts, showing consumer inflation at 3.4% annually with core CPI registering 2.5%. The combined impact of both inflation reports led markets to assign over a 65% probability that the Federal Reserve will maintain its benchmark rate at 3.50–3.75% during the September policy meeting, based on CME FedWatch Tool calculations. Federal Reserve Policymakers Remain Guarded
Even with the encouraging inflation figures, Federal Reserve officials maintained a measured stance on declaring inflation defeated.
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Cleveland Federal Reserve Bank president Beth Hammack, delivering remarks at an Ohio gathering, expressed skepticism about whether recent disinflation trends would be sufficient to achieve the central bank’s 2% inflation objective. “Perhaps we would arrive at that destination, but if the journey requires another three to four years, is that an acceptable timeline?” she questioned. Hammack was among three policymakers who supported a 0.25% rate increase during July’s meeting. Trader focus is increasingly shifting toward the Federal Reserve’s annual Jackson Hole Economic Symposium scheduled for later this month, where central bankers may offer additional clarity regarding the extended trajectory of monetary policy. Bitcoin Traders Monitor $61,000 Threshold
Financial analytics platform Barchart highlighted on X that Bitcoin’s Bollinger Band width indicator had compressed to its tightest reading since October 2023, observing that BTC subsequently surged over 330% between October 2023 and October 2025 following a comparable technical configuration. Bitcoin is getting ready for an explosive move 🚨 Bollinger Band width is at its narrowest level since October 2023 ✅ $BTC went on to soar more than 330% from Oct 2023 – Oct 2025 pic.twitter.com/rYwctiAqfL
— Barchart (@Barchart) August 12, 2026
Rafael Schultze-Kraft, cofounder of onchain analytics platform, cautioned that the $61,000 price point deserves close monitoring.
“Substantial long liquidation exposure has accumulated near $61K over recent weeks. Should price reach that level, I anticipate forced liquidations would accelerate downside momentum,” he posted on X. Bitcoin continued trading within its established $63,000–$65,000 corridor. Geopolitical uncertainties, particularly stagnant diplomatic efforts between the United States and Iran concerning Strait of Hormuz tensions, contributed to market hesitation. United States spot Bitcoin exchange-traded funds have experienced a resurgence in capital inflows lately, although the flow patterns have demonstrated notable inconsistency.
