Bitcoin held near $63,600 on Aug. 13 after an in-line July inflation reading failed to push it past resistance near $65,000. Monero and Hyperliquid's HYPE token pulled ahead of the broader market, with a single leveraged whale bet partly fueling Monero's surge.
Bitcoin added 0.30% since midnight UTC to trade near $63,600, while the broader crypto market capitalization slipped 0.54% over 24 hours to $2.18 trillion. The U.S. Bureau of Labor Statistics reported that July's Consumer Price Index rose 0.1% on the month and 3.4% from a year earlier, matching forecasts.
CPI print leaves Bitcoin stuck in its range
The reading calmed inflation worries but gave traders no new reason to buy. Bitcoin briefly touched $64,300 before slipping to an intraday low near $63,300, and struggled repeatedly to hold the $64,500–$65,000 zone in recent sessions. CoinMarketCap's Fear and Greed index sits at "fear" level of 38 out of 100, reflecting the muted reaction to this week's inflation data.
A Monero whale fuels a leveraged rally
While bitcoin idled, Monero surged. XMR climbed 3.15% since midnight to around $404, extending a weekly gain of more than 11%. Behind the move, a whale deposited $3.56 million in USDC on Hyperliquid to open a 4x leveraged long position on 36,000 XMR, a notional bet of roughly $14 million.
Hyperliquid does not list spot Monero trading; the exchange instead offers XMR-USDC perpetual futures with leverage up to 5x, letting traders speculate on the token via leverage without holding it directly.
HYPE holds its gains as futures churn
Hyperliquid's own HYPE token also outpaced bitcoin, rising 1.75% since midnight to $57. The token has traded between $55 and $57 with daily volumes regularly clearing $200 million, even after pulling back roughly 26% from its June high near $76 to $77.
Across the broader futures market, 24-hour volume rose 6% to $147 billion while cumulative open interest held flat near $116 billion. Options-based implied volatility for bitcoin and ether remains near its year-to-date lows, a sign traders aren't positioning for a big move just yet.
Sources: CoinDesk, crypto.news, Crypto Briefing
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