Bitcoin price continued rising, reaching its highest level since June 22nd as traders embraced a risk-on sentiment following the release of the encouraging consumer inflation data. The BTC/USD pair rose to 64,500, up substantially from the year-to-date low of 57,900. US Inflation Reduces Odds of Interest Rate Hikes The BTC/USD pair jumped as traders reacted to the latest US consumer inflation report. Data showed that the headline consumer price index (CPI) dropped by 0.4% in June, missing the estimated slowdown of 0.4%. Inflation eased from 4.2% in May to 3.5% in June, also lower than the expected 3.8%. The report ... (full story)