According to reports, US consumer prices rose 3.4% year over year in July, down from 3.5% in June and matching expectations. Bitcoin Holds $64K as CPI Meets ForecastsBitcoin avoided a larger move after the inflation report delivered few surprises for traders. The inflation report arrived as energy prices remained elevated compared with levels before the US-Iran conflict. Long-term holder-adjusted NUPL has fallen below the market average as Bitcoin trades roughly 50% below its cycle high. Similar conditions appeared during earlier market bottoms, when long-term investors faced sustained losses before Bitcoin eventually recovered.