# Can Bitcoin Maintain $64K Level Before CPI Data Release? How will Wednesday's inflation data impact Bitcoin's price trajectory? - **Source:** [News - Cryptonews](https://brifing.si/source/42333b6f-1c05-4a49-9914-7553e71d2223) - **Published:** 2026-08-10 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/e7818775-0f55-429f-86c5-e777325281c6 ## Bitcoin's Current Standing Bitcoin is currently trading at $64,950, marking a 0.2% daily gain. After briefly touching $65,400 on August 10, BTC now fluctuates below $65K. Analysts believe July's CPI data, due Wednesday, will determine Bitcoin's next direction. The $64,500 level remains crucial support - no need for panic unless broken. ## US Employment Data Impact Friday's report showed the US economy lost 23,000 nonfarm jobs in July. Unemployment held at 4.1%, with May-June revisions erasing 103,000 jobs. Weak employment figures reduced Fed tightening expectations, triggering a 2% Bitcoin surge. This upward momentum has sustained for three consecutive trading sessions. ## Institutional Investor Activity CoinGlass reported $854M net inflows to spot ETFs between August 3-7, with BlackRock's IBIT capturing $694M. Farside's daily tracker showed $865M inflows during the same period. While institutional interest supports prices, $65K hasn't solidified as strong support. The discrepancy between data providers doesn't change the bullish inflow trend. ## Upcoming Catalyst: CPI Report The July CPI release on August 12 serves as the next major market mover. Cool inflation would reinforce dovish Fed expectations, while hot data could revive rate hike speculation. Three Fed officials already voted for hikes in July. BTC currently trades between $64,700-$65,300, awaiting the data's direction. ## Technical Analysis Outlook Coinlore places BTC's daily range at $63,790-$66,325, with immediate resistance at $65,469. Subsequent targets include $67,081, extending to $78,085 with strong momentum. TradingView analysis shows BTC has moved sideways for two months, with the monthly open at $62,700 - indicating this remains a consolidation phase, not a new trend. ## Potential Market Scenarios Bull case: Soft CPI extends the jobs-data rally, ETF inflows continue, and BTC tests $67K after clearing $65,469. Base case: Mixed data maintains the $64K-$66K range. Bear case: Hot inflation revives hike bets (three Fed members already favored hikes), pushing BTC below $64,700. Sustained ETF inflows could prolong upward momentum. ## Market Cap and Return Dynamics At $1.3T+ market cap, a move to $67K represents just 3% gains - insufficient for portfolio rebuilding. This math explains why traders rotate capital into Bitcoin infrastructure layers during consolidation. Projects like Bitcoin Hyper attract attention with promises of faster transactions and lower fees than base layer BTC. ## Bitcoin Layer 2 Innovation Bitcoin Hyper (HYPER) positions itself as the first Bitcoin L2 with Solana-beating smart contract speeds. The project has raised $33M in presales, offering staking APY (rate undisclosed). Its decentralized bridge and low-latency execution aim to solve Bitcoin's core limitations: high fees and limited programmability - while maintaining Bitcoin-grade security. ## Sources covering this story - https://cryptonews.com/news/btc-usd-price-prediction-cpi/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._