🌅 Macro conditions are getting softer, stocks are hitting new records, but $BTC is still not joining the risk-on move. 🇺🇸 Macro. U.S. July CPI rose just 0.1% MoM, while annual inflation slowed to 3.4% and Core CPI eased to 2.5%. PPI came in at 0% MoM. Pressure on the Fed to tighten monetary policy further is fading. 📈 Stocks. The S&P 500 closed at a new all-time high of 7,798.99 (+0.65%), while the Nasdaq gained 0.81%. AI and semiconductors remain key market drivers: Micron jumped 4.2%, while Meta gained 2.8%. ₿ Crypto. Bitcoin remains around $63–64K, while Ethereum trades near $ 1,900. This is the most interesting part for me today: macro conditions are improving, equities are hitting record highs, yet $BTC is barely reacting. 🤖 AI. The investment cycle continues to accelerate. CoreWeave raised its 2026 CAPEX forecast to $35–39 billion, while AMD is tapping the debt market for roughly $ 4–5 billion. Capital continues to flow into GPUs, data centers, networking and energy infrastructure. 🇨🇳 China. U.S. China tech decoupling continues, with competition gradually shifting from individual chips toward AI models, cloud infrastructure and proprietary computing platforms. 🔥 My take: Bitcoin’s current weakness no longer looks like a purely macro issue. If the S&P 500 continues making new highs while $BTC remains stuck in the $63–65K range, ETF flows, exchange supply and real spot demand will become increasingly important. Favorable inflation data has created the conditions for a move higher. Now #Bitcoin needs to show that buyers are ready to take advantage of them. #BTC Price Analysis#