🟠 Bitcoin Sees Modest Uptick Following U.S. Inflation Data Release
🇺🇸 U.S. annual inflation in July came in at 2.7%, slightly below the forecast of 2.8%. Meanwhile, the Core Consumer Price Index (Core CPI) edged higher than expected — 3.1% versus the projected 3.0%.
Shortly after the release, Bitcoin’s price rose about 0.6% (over $700 at current rates).
The crypto market remains highly sensitive to inflation figures, as they influence expectations for the Federal Reserve’s key interest rate. Slowing price growth often fuels hopes for rate cuts, boosting demand for risk assets like cryptocurrencies.