This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile. Always do your own research before making any investment decisions.

Bitcoin climbed above $64,000 on July 15, 2026, pushed by softer U.S. inflation testimony from former Federal Reserve official Kevin Warsh, according to data from CoinGecko’s coverage and market commentary from The Block.

Impact of U.S. Inflation Data on Bitcoin

The U.S. Consumer Price Index (CPI) rose 0.3% month-over-month in June 2026, below economists’ median forecast of 0.4%, as per official government data published this week. This slower inflation pace suggests cooling price pressures in the economy after months of persistent gains, per Standard Chartered’s July 2026 economic outlook, which helped ease fears about aggressive Fed hikes and stabilised risk appetite.

Bitcoin responded swiftly to the CPI release, recovering nearly 5% within hours and pushing the price above $64,000 for the first time since late June. Per Bitwise, easing inflation concerns typically correlate with increased institutional inflows into crypto assets as monetary policy uncertainty diminishes.

Kevin Warsh’s Testimony and Market Sentiment

Kevin Warsh, former member of the U.S. Federal Reserve Board, testified before the Senate Banking Committee on July 14, 2026, sharing cautious optimism about the U.S. economic outlook and urging restraint in further rate hikes. His remarks aimed to temper market fears of an aggressive Fed tightening cycle, according to testimony transcripts reviewed by Bloomberg’s coverage, setting a calmer tone for investors.

This testimony helped fiscal markets stabilize, influencing Bitcoin’s surge alongside risk-on sentiment in equity and bond markets. Cryptocurrency Warsh’s comments removed a degree of uncertainty that had previously suppressed Bitcoin’s price, allowing for renewed speculative buying, which further supported the crypto rally.

Technical indicators on TradingView‘s Bitcoin-to-USD charts showed strengthening momentum on July 15. The relative strength index (RSI) climbed from a neutral 47 to above 60, signaling growing buying interest. Earlier this month, the 50-day moving average crossed above the 200-day moving average — a bullish crossover pattern confirmed in many prior uptrends — as detailed by technical analysis shared by The Block.

On-chain metrics also backed the price move, with data from Glassnode revealing a 12% increase in long-term holder accumulation since early July 2026.

Broader Cryptocurrency Market Reaction

The broader crypto market followed Bitcoin’s lead as Ethereum and major altcoins gained between 3% and 6% amid improved risk sentiment. According to CoinGecko, total crypto market capitalization rose above $2.2 trillion on July 15, reaching a level last seen in May 2026, which points to strengthening market enthusiasm.

Investor shifts from stablecoins and fiat holdings into digital assets suggest a growing appetite for risk. Per Bitwise, this momentum could persist through the second half of 2026 — propelled by upcoming technological upgrades and institutional adoption trends that many experts expect to accelerate.

Outlook and Key Upcoming Events

Looking ahead, traders and investors will keep a close eye on the Federal Reserve’s July 26–27, 2026, policy meeting, where rate decisions might either fuel or dampen the current rally, according to VanEck’s coverage’s strategic forecast. The market’s reaction to the inflation data and Warsh’s testimony shows heightened sensitivity to central bank signals. Bitcoin’s ability to hold above $64,000 in the coming weeks will offer a real test of market resilience.