U.S. CPI printed 3.4% for July, in line with expectations, and September rate hike odds fell to 34%, the lowest since July 17th. Despite this, Bitcoin gained only 0.5% and remains capped below the $65k resistance, with ETF flows dominated by outflows. Kalshi traders forecast BTC could close the month below $60k while long-term holders carry mounting unrealized losses. The Bitcoin bottom thesis is under scrutiny as accumulation signals remain absent and capitulation risk builds.
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