Bitcoin's recent rally has stalled as investors assess the impact of inflation data and rising oil prices on future monetary policy. Federal Reserve Chair Kevin Warsh emphasized that a single favorable inflation report is insufficient to declare victory, linking the central bank's next steps to forthcoming data. Meanwhile, the European Central Bank has ruled out a July rate cut, with Brent crude prices exceeding $85 per barrel, maintaining inflationary pressures. Market participants are now focused on whether inflation can continue to cool without rebounding, especially as geopolitical tensions affect oil and gas flows. Upcoming U.S. producer price data and PCE figures will provide further guidance. Bitcoin's trajectory appears increasingly tied to these economic indicators rather than immediate central bank decisions.