Bitcoin Tops $65k On BlackRock Clients' Purchase, Taiwan Reserve Plan
Bitcoin (BTC) price climbed by 3% to $65, 151 outperforming a broadly rising crypto market, driven by a macro-driven relief rally after cooling U. S. inflation data eased fears of aggressive Federal Reserve. . .
Bitcoin (BTC) price climbed by 3% to $65, 151 outperforming a broadly rising crypto market, driven by a macro-driven relief rally after cooling U. S. inflation data eased fears of aggressive Federal Reserve rate hikes. Traders said cooling U. S. inflation data shifted market expectations toward a less hawkish Fed, boosting rates-sensitive assets like Bitcoin. The June U. S. Consumer Price Index showed a sharp 0. 4% monthly drop in headline inflation, easing investor fears that the Fed would need to raise interest rates. This shift in sentiment made Bitcoin and other risk assets more attractive. Bitcoin is acting as a traditional macro asset, with its short-term direction heavily influenced by Fed policy expectations. Following the macro news, BlackRock clients purchased $138. 9 million in Bitcoin on July 15, marking a reversal of recent ETF outflows and signalling renewed institutional confidence. Large, strategic buyers are stepping in on price strength, providing underlying support. The immediate trend is cautiously bullish, supported by the macro catalyst and spot buying. Also, Taiwanese legislator Dr Ko Ju-chun estimates an 80% probability that Taiwan will establish a strategic Bitcoin reserve within five years. He has presented a formal roadmap to the government, arguing that Bitcoin’s censorship-resistant properties are crucial for financial resilience. This is bullish for Bitcoin, as it reflects a growing narrative of nation-state adoption of strategic reserves, moving beyond speculative investment. Such developments could pave the way for increased legitimacy and demand from other sovereign entities. The key concrete event is upcoming Fed communication. The price has reclaimed the $64,000 level on elevated volume (up 23. 3%), confirming buyer interest. The path of least resistance is higher, provided the $64,000 support holds. A sustained close above $64,500 would confirm the breakout; failure here could see a retest of lower support. Bitcoin’s rally is primarily a macro-driven move, amplified by a visible return of institutional buying pressure. In a latest development, MicroStrategy’s subsidiary, Strategy, launched a Bitcoin Banking Adoption Index, scoring 25 major global banks. The aggregate adoption level stands at just 32%, with Fidelity leading at 71% while many traditional lenders lag significantly behind. This is a neutral-to-bearish indicator for near-term institutional impact. It highlights that while pioneers exist, deep integration of Bitcoin into the core banking system remains in its early stages, acting as a friction point for broader capital flowsZcash Gains 13% Ahead of Upcoming Ironwood UpgradeJulius AlagbeJulius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting. He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa. Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions. He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape. His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses. Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa. Julius Alagbe is based in Lagos, Nigeria.