Table of Contents

• Bitcoin

• U.S. Consumer Prices

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Bitcoin

Bitcoin pulled back sharply on Tuesday, slipping beneath the $117,000 threshold after lawmakers in the U.S. House defeated several cryptocurrency measures on a 196–223 procedural vote. The retreat cut its intraday gain of over $120,000 and reversed recent strength driven by large-scale inflows into spot bitcoin funds. Related equities also weakened in extended trading: shares of Riot Platforms and Mara Holdings shed roughly 3.3% and 2.3%, respectively, while Coinbase dipped about 1.5%. The outcome underscores how quickly digital‑asset markets can swing on the prospect of federal regulation.

U.S. Consumer Prices

Year-over-year consumer prices rose to about 2.7% in June (from 2.4% in May), roughly matching forecasts as cheaper petrol partly offset pricier groceries. Economists say recent U.S. import levies are starting to push costs higher and expect a more pronounced effect once firms run down stockpiled inventories, with goods prices likely to accelerate later in the year. Rent and other housing expenses were the largest upward force, while meat, poultry and egg categories showed sizable annual gains (eggs, however, eased month-to-month). Used and new vehicle costs slipped and airfares ticked down, and the measure that excludes volatile energy and food climbed close to 2.9% annually. Analysts warn the full fallout from trade policy will become clearer in coming months, though most do not foresee a replay of the 2022 surge.

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