Bitcoin experienced a significant surge this week, reaching nearly $64,800 . This rise comes as U.S. inflation cooled more than economists expected, leading traders to abandon bets on a Federal Reserve rate hike this month. What happened June's inflation rate dropped to 3.5% , down from 4.2% the previous month. These figures have had a positive impact on the crypto market, marking bitcoin's best session in weeks. Analysts note that bitcoin remains highly sensitive to interest rate expectations. What does this mean for the market The cooling inflation has eased immediate downside pressure on bitcoin. However, the next major test for bitcoin will occur at the Federal Reserve's meeting in September. Additionally, it will be crucial to see if bitcoin ETF inflows can be sustained. Bitcoin reached nearly $64,800 Inflation fell to 3.5% Rate hike expectations have diminished Stay updated on the latest developments in the crypto market by reading the full article at the source. This article is not financial advice. Always do your own research before making decisions about your money. Read the full article