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Bitcoin dips after July inflation data; Fed rate hike odds fall, crypto markets weaken

Market News
13 Aug 2026
Blockonomi
View Source
Neutral
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Bitcoin fell to around $63,500 following July's inflation report that matched expectations, leading to a drop in the probability of a September Federal Reserve rate hike from 46% to 38%. The inflation data reassured markets but did not spark strong gains in digital assets, with most cryptocurrencies, including Dogecoin and XRP, showing declines. Meanwhile, South Korea's KOSPI index entered a bull market, rising over 20% since July, and AI-focused tech stocks like Super Micro Computer and CoreWeave surged 19% on strong quarterly results. Investors are now watching upcoming economic events like the Jackson Hole symposium and September's employment and CPI reports for further market direction.

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