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Bitcoin dips below $64K amid inflation worries and rising oil prices ahead of U.S. CPI data

Market News
11 Aug 2026
Crypto news
View Source
Bearish
Bitcoin dips below $64K amid inflation worries and rising oil prices ahead of U.S. CPI data

Bitcoin fell 1.6% to around $63,855 as traders reduced risk ahead of U.S. inflation data and rising oil prices raised concerns about the Federal Reserve's interest rate path. Ether and XRP also declined, while some altcoins like Hyperliquid and Chainlink gained. U.S. spot Bitcoin ETFs saw net outflows after a strong inflow streak. Brent crude oil prices rose near $88 due to stalled U.S.-Iran talks, fueling inflation fears ahead of the July CPI release on August 12. The market awaits this key inflation data, which will influence Treasury yields and crypto prices. Bitcoin needs to reclaim $65,000 to regain momentum, with support near $63,000 to $64,000 critical to watch.

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