Bitcoin holds near $64,000 as Microsoft's AI payoff lifts stocks

Key Points:

• The Core Personal Consumption Expenditures (PCE) Price Index for June rose 0.1%, below forecasts and down from May's 0.3%, with year-over-year core PCE inflation steady at 3.3%, indicating moderate inflation pressures.
• The U.S. economy showed slower growth with a preliminary second-quarter GDP growth estimate of 1.5%, below the expected 2.1%, while initial jobless claims rose slightly to 197,000, signaling a steady labor market.
• Decentralized lender Aave plans to withdraw from six blockchain networks due to low revenue relative to support costs, proposing measures to reduce activity and encourage loan repayments on these platforms.
• The Bank of England held its interest rate at 3.75%, noting a faster-than-expected inflation decline to 2.6%, but warned inflation may rise later due to high energy prices linked to the Middle East conflict, with a divided vote among committee members.
• U.S. Treasury 30-year real yields have risen to nearly 3%, the highest since 2008, offering strong inflation-adjusted returns that may challenge riskier assets; meanwhile, the dollar weakened despite a "hawkish hold" by the Fed, and markets reacted positively to strong Microsoft earnings supporting AI investment optimism.