Crypto Weekly Recap: Bitcoin Slips Below $63,000 as CPI Relief Never Arrives

Bitcoin closed the week at roughly $62,990, down 2.7%, after an in-line July inflation print failed to trigger the expected relief rally. Spot Bitcoin ETFs reversed from their strongest inflow week since April into consecutive days of outflows, and XRP briefly traded below $1 for the first time in nearly two years following a cross-chain bridge exploit. The structural developments carried more weight than the price action. Goldman Sachs agreed to acquire NEOS Investments for up to $2.25 billion, gaining three crypto income ETFs. Riot Platforms sold 4,300 BTC to fund AI data center expansion. Grayscale withdrew three altcoin ETF registrations days before one of the underlying assets cleared its regulatory threshold. Both major US regulatory catalysts, meanwhile, slipped to September. Below is a summary of the week's key developments across prices, flows, corporate activity and regulation. Bitcoin price today after this week's crypto market drop $Bitcoin is trading around $62,990 on Sunday morning, down 2.7% over the week, with the total crypto market cap holding near $2.19 trillion. Bitcoin fell 2.39% between 7 and 14 August, with five of seven trading sessions ending in negative territory, while Ethereum dropped 1.71%. The slide extended into the weekend, with BTC dipping as low as $62,812 on Saturday before stabilizing. Where the majors finished the week: 🔴 Bitcoin ($BTC) around $62,990, down 2.7% on the week 🔴 Ethereum ($ETH) around $1,880, down about 1.7% 🔴$ XRP around $1.00, briefly under the dollar mark 🔴 Solana ($SOL) around $75.30, down about 1% 🟢 Monero ($XMR) up 5.3%, one of the few large caps in green Since mid July the reading has traced an almost flat line in the mid to high thirties while Bitcoin swung between $63,000 and $66,500 above it, which tells you sentiment has been numb rather than panicked. Bitcoin's nearest support and resistance sat at $61,650 and $67,253. Volatility was almost non-existent. BTC's daily move did not exceed 1.5% on any single day, and the ADX reading of 12.37 confirms there is simply no trend here right now. That matters more than it sounds. Crypto trading volumes have fallen to their lowest levels in three years, leaving very little firepower to push Bitcoin decisively in either direction. Why did the July CPI report fail to lift the crypto market? The July inflation print landed exactly in line with forecasts, but it was still too high to bring rate cuts back onto the table, so crypto got no relief rally. Consumer prices rose 0.1% month over month and 3.4% year over year, with core inflation up 0.2% monthly and 2.5% annually. Headline CPI cooled from 3.5% and core eased from 2.6%. In a normal cycle, cooling inflation supports risk assets. This time, nothing followed.