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Bitcoin climbed near $64,800 on Wednesday after softer U.S. inflation data reduced expectations for another Federal Reserve interest rate increase. Ether and major altcoins also advanced. Meanwhile, a solo miner separately earned 3.125 BTC after validating a Bitcoin block with one low-cost Bitaxe machine.
Headline inflation fell to 3.5% in June from 4.2%, beating economists’ expectations. Core inflation also eased to 2.6% from 2.9%, showing that broader price pressure had weakened. Traders quickly reduced the implied chance of a rate increase this month. The odds dropped from 43% to 13%, while the two-year Treasury yield fell six basis points.
Bitcoin gained 3.6% over 24 hours and 3.3% for the week. Trading volume reached about $31 billion as the cryptocurrency recorded its strongest session in weeks. Ether rose 5.3% to nearly $1,880 and gained 7.1% across seven sessions. HYPE added 6.4%, while XRP, Solana, Dogecoin, and BNB also moved higher.
Higher interest rates often reduce demand for Bitcoin and other risk assets. Cash and Treasury bonds become more attractive as they provide steadier returns and lower price volatility. By contrast, cooler inflation reduces pressure on the Fed to raise rates. That shift can encourage investors to move capital back into cryptocurrencies and equities.
Equity markets responded to the same inflation report. The MSCI Asia Pacific index rose 2.3%, marking its biggest advance in a month as technology stocks led gains. South Korea’s Kospi surged 8.2% and reclaimed its position as the best-performing major benchmark this year. SK Hynix jumped 13% in Seoul.
The chipmaker’s American depositary receipts had climbed 27%, supporting the sharp increase in its South Korean shares. Brent crude also rose 1% above $85 a barrel for a third consecutive session. Oil had gained 11% across the previous two sessions.
President Trump threatened further strikes on Iran, while the United States resumed its blockade of Iranian shipping through the Strait of Hormuz. CoinEx chief analyst Jeff Ko said Bitcoin remained a rate-sensitive risk asset rather than a macroeconomic hedge. He said the report eased immediate pressure without confirming a lasting breakout.
Core inflation remains above the Federal Reserve’s 2% target. Therefore, the data gives officials room to hold rates steady rather than a clear reason to cut them. Ko identified the September Federal Open Market Committee meeting as the next major test. Dollar movements and sustained Bitcoin exchange-traded fund flows could also influence the market.
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A solo miner validated Bitcoin block 957382 on Friday using one low-cost Bitaxe machine. The miner received the standard 3.125 BTC subsidy, worth about $200,000. Blockchain data from mempool.space recorded the successful block. Public Pool later linked the result to a single Bitaxe rig through a post on X.
Bitaxe describes the device as a budget, low-power Bitcoin miner with an estimated hashrate near 1 terahash per second. That capacity remains extremely small compared with the total Bitcoin network hashrate. Large industrial operations normally control far more computing power.
Bitcoin mining depends on probability rather than equipment size alone. A small miner holds a limited chance, yet every valid attempt can still solve a block.
The miner did not receive a special reward. Every successful solo miner qualifies for the standard block subsidy after producing a valid block. The result showed that hobby-scale equipment can still occasionally secure a full subsidy, despite the network’s increasingly competitive mining environment.
Bitcoin climbed near $64,800 as cooling U.S. inflation reduced expectations for another Federal Reserve rate increase. Ether and global equities also advanced, while a solo Bitaxe miner secured 3.125 BTC. Traders should now watch interest-rate signals, ETF flows, and broader market momentum.
