Bitcoin Hits $64,000 on Steepest Inflation Drop Since 2020

Bitcoin ticked above $64,000 after the Consumer Price Index fell 0.4% month-over-month in June, the sharpest decline since April 2020. Economists had penciled in a mere 0.1% dip, making the print a genuine surprise for markets.

The token steadied around $64,300, up 2.3% on the day per CoinGecko, though its climb trailed Ethereum, which surged 5.4% to roughly $1,890. Tumbling energy costs drove the drop, offsetting stubborn increases across food and shelter prices.

Annual inflation cooled to 3.5%, easing for the first time in five months, while core inflation clocked 2.6% against 2.9% previously. Traders swiftly grew confident the Fed holds rates at 3.5% to 3.75% this month, though a September hike still looms.

Sygnum CIO Fabian Dori called the figures the first real indication that spring's energy-driven impulse is fading rather than broadening. Yet the US military prepared to reimpose its blockade on Iranian ports, keeping the Strait of Hormuz conflict firmly overhead.

US Government Moves $288 Million Seized Crypto to Coinbase

Wallets tied to the US government transferred more than $288 million in bitcoin and ether to Coinbase Prime, moving roughly 3,800 BTC and 30,007 ETH across multiple transactions, according to Arkham Intelligence. The batches stemmed from seizures tied to dark-web dealer Ryan Farace and defunct exchange BTC-e.

Movements onto Coinbase Prime need not foreshadow a sale, since the platform also handles custody and financing for institutional clients. Washington's wallets still hold an estimated $20 billion in crypto, including 324,552 BTC amassed largely through law enforcement seizures.

UK to Defer Capital Gains Tax on DeFi Deposits

HM Revenue & Customs confirmed that depositing cryptoassets into lending protocols and liquidity pools will no longer count as a taxable disposal, deferring capital gains tax until a genuine economic disposal occurs. The measure takes effect from 6 April 2027 and touches roughly 700,000 individuals.

Under the 2022 guidance, shifting tokens into a DeFi arrangement could itself trigger a paper tax bill before anything was sold. Aave founder Stani Kulechov praised the shift as the right direction, crediting sustained industry feedback for reshaping the policy.

ECB Taps 36 Payment Providers for Digital Euro Pilot

The European Central Bank selected 36 payment service providers from over 50 applicants for a 12-month digital euro pilot beginning in the second half of 2027. The roster spans Deutsche Bank, UniCredit, and BPCE alongside digital-native names like Revolut and Adyen.

Participants will test payment functions and user experience across the ECB and 19 national central banks, covering person-to-person and in-store transactions both online and offline. The bank aims for potential first issuance in 2029, contingent on lawmakers adopting the digital euro regulation.

Data of the Day

Tweet volume for the keywords Bitcoin and Ethereum sank to fresh 12-month lows, with Bitcoin mentions down to roughly 130,000 and Ethereum to around 40,000. Attention has not been this thin since 2020, when institutional interest in crypto remained embryonic.

Retail mindshare has round-tripped to pre-institutional levels even as Wall Street piled in through spot ETFs and corporate treasuries, with tokenization now headlining major conferences. Thin social chatter has historically coincided with price stagnation, though infrastructure buildout continues regardless of public enthusiasm.

More Breaking News

• The US and UK released a 10-point roadmap coordinating oversight of tokenized assets and stablecoins, aiming to cut regulatory friction between the world's two largest financial centers.
• New Hampshire's governor signed the Blockchain Basic Laws, protecting self-custody rights for users, miners, and validators, a year after the state launched its strategic Bitcoin reserve.
• Hyperliquid's HIP-3 markets have surged to nearly half of all perp volume from roughly 2% at the start of the year, driven by appetite for onchain stock trading.
• Bolivia is weighing adding Tether's stablecoin to its national payments system, after the nation facilitated $14.8 billion in USDT and crypto transaction volume through June 2025.
• Dragonfly and FirstMark led a $38 million Series A for stablecoin settlement startup Velocity, with Coinbase Ventures and Ripple backing the treasury platform that connects traditional banking rails.
• Robinhood Chain's early momentum is driven by speculation, generating $3.1 billion in DEX volume as meme coins eclipse the $13 million held in stock tokens.
• Japan's Progmat migrated nearly $3 billion in security tokens to a dedicated Avalanche chain, making rights transfers three to five times faster with finality under two seconds.

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