Bitcoin showed limited price movement after July US inflation data came in broadly in line with expectations. Annual consumer inflation stood at 3.4%, while core inflation was reported at 2.5%. The total cryptocurrency market capitalization declined 0.54% over the past 24 hours to $2.18 trillion, while Bitcoin gained approximately 0.30%. Market attention has now shifted to the upcoming producer inflation data.
In derivatives markets, 24-hour futures trading volume increased 6% to $147 billion, while total open interest remained near $116 billion. XRP open interest stayed at 2.67 billion tokens, its highest level since October, while negative funding rates for ADA and BCH pointed to stronger short positioning. Meanwhile, $1.07 million in premiums was paid for Bitcoin call options with a $65,500 strike price expiring on August 15, suggesting that short-term bullish expectations have not completely disappeared.
Among altcoins, Monero gained 3.15% to approximately $404, taking its weekly increase above 11%. Hyperliquid rose 1.75% to around $57, while FET and NEAR also posted modest gains. Curve (CRV) declined 8.38% and Morpho fell 1.51%. Implied volatility in Bitcoin and Ethereum options remained close to its lowest levels of the year, indicating limited expectations for a major short-term market move.
