Bitcoin traded near $64,637 on Thursday, extending a steady recovery after softer U.S. inflation data eased concerns about further Federal Reserve tightening. The cooler-than-expected producer price index (PPI) and consumer price index (CPI) readings pulled Treasury yields lower, reviving appetite for risk assets across the board.
Bitcoin Price Today
Bitcoin was last seen at $64,636.95, up 0.10% in the past 24 hours, according to CoinMarketCap. The $64,000 zone remains key support, while $65,500 is the immediate resistance level. A sustained close above $65,500 could open the path toward $67,200, with some analysts eyeing $70,000 if momentum continues.
Ethereum and Altcoins Rally
Ethereum stood out among large-cap cryptocurrencies, gaining 2.5% and extending its weekly advance to over 10%. XRP added 1.22%, and Solana rose 1.28%, reflecting broad altcoin strength. The rally was driven by improved risk appetite following the inflation data and fresh inflows into spot Bitcoin and Ethereum ETFs.
Inflation Data and Fed Outlook
U.S. producer inflation fell 0.3% month-on-month, reinforcing Tuesday’s softer CPI print. The data reduced expectations of further rate hikes, though Fed officials struck a cautious tone. The Beige Book showed price growth flattening or slowing across all districts. Markets now await upcoming producer price data and Fed commentary for the next directional cues.
ETF Flows Stabilize
U.S. spot Bitcoin ETFs pulled in roughly $181 million on Tuesday, rebounding from a $425 million outflow the previous day. Ethereum ETFs added nearly $58 million in the same session. Analysts view consistent inflows as critical for Bitcoin to sustain a move above $65,000.
Japan and South Korea Move on Crypto Regulation
Japan reclassified crypto as a financial asset, paving the way for lower taxes. South Korea is also modifying its laws to formally classify crypto as a national asset and is piloting tokenized government bonds. These moves signal growing regulatory comfort and institutional adoption in Asia.
CLARITY Act Stalled
In the U.S., the Digital Asset Market CLARITY Act remains stuck in the Senate without a floor vote, as disputes over stablecoin provisions and ethics rules continue. Regulatory uncertainty persists, but the broader global trend is shifting toward clearer frameworks.
Outlook
Bitcoin holds near $64,600 as cooling inflation offsets geopolitical risks. A sustained close above $65,500 would strengthen the case for a retest of $67,200. A slip below $63,500 risks exposing the $62,500 support zone. Ethereum’s outperformance suggests rotation toward institutional-grade altcoins, and fresh ETF inflows point to steadier institutional participation this week.
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