Crypto Prices Today: Bitcoin (BTC-USD) Holds Near $63,844, Up 0.30% as Traders Await US PPI Data
Key Points
Bitcoin traded near $63,844, up 0.30%, as traders await Thursday's PPI report.
July CPI rose just 0.1% monthly, barely moving crypto prices this week.
Goldman Sachs agreed to buy ETF manager NEOS for $2.25 billion.
Bitcoin remains roughly 49% below its October 2025 record high of $126,080.
Crypto prices held steady Thursday, August 13, 2026, with Bitcoin trading near $63,844, up 0.30%. Ethereum hovered around $1,878, while Solana traded near $75.53 and XRP sat close to $1.00. Traders are now watching the July Producer Price Index, due at 8:30 AM ET Thursday. That release follows Wednesday’s tame Consumer Price Index report, which barely moved crypto markets despite cooling inflation.
Crypto Prices Show Muted Reaction to Cooling Inflation
Crypto prices stayed largely flat even after July’s CPI report came in softer than expected. The Consumer Price Index rose just 0.1% month-over-month, with annual inflation at 3.4%.
- That marked the tamest US inflation reading in several months.
- Bitcoin still closed Wednesday down 0.24% at $63,402, barely reacting to the data.
Analysts say crypto traders have largely priced in the Federal Reserve’s expected policy path already. Instead, market attention has shifted toward regulatory developments and corporate moves shaping the sector’s next phase.
Bitcoin Remains Well Below Its 2025 Record High
Bitcoin’s (BTCUSD) current price near $63,844 sits roughly 49% below its all-time high of $126,080. That record was set on October 6, 2025, during last year’s bull run.
- Bitcoin remains down approximately 27% since the start of 2026.
- Its market capitalization stands near $1.30 trillion, representing about 57% of total crypto market value.
Spot Bitcoin ETFs posted modest net inflows of $7.8 million on Wednesday, led by BlackRock’s iShares Bitcoin Trust (IBIT). That inflow, while small, suggests institutional demand hasn’t fully disappeared despite the extended price slump.
PPI Data Carries Fresh Market Significance Today
Thursday’s Producer Price Index release matters more than usual given recent Federal Reserve dynamics. The July 28-29 FOMC meeting saw a rare 9-3 vote split.
- That marked the first three-way, same-direction dissent since September 2016.
- PPI data feeds directly into the Fed’s preferred inflation gauge, released August 26.
A hotter-than-expected PPI reading could reinforce hawkish dissent within the Fed, pressuring crypto prices further. Conversely, a soft print might restore some confidence in a near-term rate-cut path for risk assets.
Wall Street Continues Expanding Crypto Infrastructure
Beyond price action, institutional infrastructure around crypto continues expanding rapidly this week. Goldman Sachs (NYSE: GS) agreed to acquire ETF manager NEOS for $2.25 billion.
- That deal includes a ready-made $1 billion Bitcoin covered-call fund.
- Fidelity separately asked regulators to let its Ethereum ETF stake up to 100% of its holdings.
Fidelity’s proposal would let the fund pay quarterly cash rewards directly to investors. Meanwhile, state-level crypto regulation continues tightening, with Hawaii set to ban cryptocurrency ATMs starting in October.
Regulatory Patchwork Adds Complexity for Investors
State regulators are taking increasingly divergent approaches to cryptocurrency oversight across the United States. Hawaii’s upcoming ATM ban will join similar restrictions already in place in Minnesota, Tennessee, and Indiana.
Arizona, by contrast, recently expanded protections, letting scam victims seek full reimbursement within 30 days. This patchwork of state rules adds complexity for retail investors navigating crypto prices across different markets. Companies like Coinbase Global (NASDAQ: COIN) continue monitoring these regulatory shifts closely across their compliance operations.
Final Words
Crypto prices remain in a holding pattern as traders wait for clearer signals from Thursday’s PPI report. With Bitcoin still deeply below its 2025 peak, institutional moves from Goldman Sachs and Fidelity suggest confidence hasn’t fully faded. The coming weeks, including August 26’s PCE and GDP data, should offer more clarity on crypto’s near-term direction.
Disclaimer
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
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