Bitcoin tops $64,000 as cooling U.S. inflation guts the Fed rate-hike trade

Bitcoin has surpassed $64,000 as cooling US inflation reduces fears regarding Fed rate hikes. This price surge reflects the asset's high sensitivity to shifts in monetary policy. The movement highlights the role of Bitcoin as a hedge against inflation and general economic uncertainty. Consequently, the cooling inflation data has effectively gutted the Fed rate-hike trade, driving the cryptocurrency's value upward as investors react to the changing macroeconomic landscape and potential policy shifts.