Bitcoin Breaks $65K as Soft PPI Ignites Cross-Asset Risk Rally

Bitcoin crossed $65,000 on July 24, 2026, and the headline obscures what actually happened. This was not a crypto-native demand surge. It was a macro relief trade, triggered by a June PPI print that fell 0.3% month-over-month, the first monthly producer price decline since August 2025. Gold moved higher on the same data. Equity futures initially caught a bid. The catalyst was Washington, not Satoshi. Key Takeaways Bitcoin reached $65,494 intraday on July 24 after June PPI fell 0.3% month-over-month, the first monthly decline since August 2025, forcing an estimated $100 million in short position liquidations within 30 minutes of the release. BlackRock's IBIT recorded a single-day outflow of $…