TLDRBitcoin retreated to $64,000 after reaching a three-week high near $65,600.Ethereum fell below $1,900 after briefly approaching a six-week peak of $1,950.Lower-than-expected US inflation data initially supported gains across the crypto market.Bitcoin maintained a 56.7% market dominance despite its latest price decline.Ondo gained 17%, while Bitcoin Cash and DeXe led losses among larger cryptocurrencies.Total cryptocurrency market capitalization dropped by $40 billion to approximately $2.27 trillion.Bitcoin price returned to $64,000 after briefly reaching a three-week high near $65,600. Ethereum also reversed from a six-week peak near $1,950 and slipped below $1,900. Meanwhile, the broader crypto market lost about $40 billion from its latest daily peak.Bitcoin Reverses After CPI-Fueled AdvanceBitcoin price had traded near $64,000 during a relatively calm and positive weekend. However, renewed tension between the United States and Iran pressured markets when trading resumed. Bitcoin then fell below $62,000 by Tuesday morning as traders assessed the weekend strikes.Bitcoin price recovered sharply after June inflation figures came below market expectations. It reclaimed $64,000 and later crossed $65,000 as buying activity strengthened across major exchanges. The advance then peaked near $65,600, marking Bitcoin’s highest level in roughly three weeks.Sellers regained control after the peak, and the Bitcoin price dropped by about $1,500. The asset returned to approximately $64,000, erasing much of the inflation-driven increase. Its market value also declined to about $1.285 trillion, according to CoinGecko data.Ethereum Retreats From Six-Week HighEthereum outperformed several large-cap assets as it climbed toward $1,950 during the broader rebound. The move placed ETH at its highest level since early June. However, selling pressure later pushed the token below the $1,900 mark.Bitcoin price remained comparatively stable while Ethereum recorded the stronger short-term move. BNB edged closer to $580, but XRP slipped slightly while contesting the $1.10 level. These mixed results showed limited follow-through among several leading alternative cryptocurrencies.Solana, Tron, Hyperliquid, Rain, Zcash, Canton, Litecoin, and Cardano all posted daily losses. Bitcoin Cash and DeXe recorded sharper declines among larger assets. In contrast, Ondo gained about 17% as the Bitcoin price stabilized near $64,000.Crypto Market Value DeclinesThe total cryptocurrency market value fell by roughly $40 billion from its daily peak. It later stood near $2.270 trillion as selling spread across several major tokens. The Bitcoin price decline contributed to the broader pullback after the earlier market advance.Bitcoin maintained a 56.7% share of the total cryptocurrency market despite the decline. Therefore, its dominance stayed unchanged even as several alternative assets recorded deeper losses. The Bitcoin price remained above levels seen during Tuesday’s early decline below $62,000.The market ended the period with Bitcoin near $64,000 and Ethereum below $1,900. The Bitcoin price held part of its CPI-driven recovery but remained below Wednesday’s three-week peak. Overall market value also stayed lower as the Bitcoin price rally lost momentum.The post Crypto Market Sheds $40B as Bitcoin Price Pulls Back appeared first on Blockonomi.