Bitcoin surged past $65,000 on July 15 after the US June Consumer Price Index came in below expectations, marking a three-week high. The inflation slowdown triggered a broad market rebound, lifting major altcoins as well.
CPI Data Sparks Bitcoin Rally
Bitcoin had been under pressure earlier this week due to escalating tensions in the Middle East and global risk aversion, dropping to around $61,600 before recovering. After consolidating near $64,000 over the weekend, the release of the June CPI data—which showed a 3.5% annual increase, a clear deceleration from May—shifted market sentiment sharply. Bitcoin immediately broke above $65,000, its highest level in three weeks.
Although some profit-taking has since pulled the price back to around $64,500, Bitcoin's market capitalization has expanded to approximately $1.3 trillion. Its dominance remains steady at 56.7%.
Altcoins Rebound: Pi Coin Jumps 16%
Altcoins also participated in the recovery. Pi Coin, which had been under pressure recently, found support near $0.07 and rallied about 16% in a day to reclaim $0.085. Pump.fun token surged 14%, while Zcash led among large-cap altcoins with a 9% gain to above $550. Chainlink and Hyperliquid each rose around 5%. Ethereum recovered the $1,870 level and is attempting to break $1,900. Binance Coin, Ripple, and Solana also posted modest gains.
The total cryptocurrency market cap increased by over $60 billion in a single day, reaching $2.28 trillion.
Inflation Slowdown Fuels Risk Appetite
The rally reflects a classic market response to easing inflation, which fuels expectations of less aggressive monetary tightening. Liquidity hopes are flowing back into risk assets, including Bitcoin. However, structural interpretations of the CPI data and lingering geopolitical risks mean the sustainability of the uptrend will depend on further economic indicators and market conditions. Investors should monitor macro shifts and capital flows rather than focusing solely on short-term price moves.