According to CoinMeta, the price of Bitcoin fell by nearly 3% from its intraday high of $65,234 to $63,304, as the U.S. inflation report failed to push the asset beyond its established trading range. At the time of writing, the price was near $63,600, which is about 3% lower than the intraday high. The U.S. Bureau of Labor Statistics reported that overall inflation rose 0.1% month-on-month in July, and the annual rate slowed from 3.5% in June to 3.4%. The core inflation rate rose 0.2% month-on-month, with an annual rate of 2.5%. Jeff Ko, the chief analyst, stated that these data have a limited impact on changes in financial conditions, and the fact that Bitcoin failed to maintain a price above $65,000 supports the interpretation of this as "bad news." Ko pointed out that the weak employment report for July had a greater impact on interest rate expectations than the CPI data.