💥 Breaking: $BTC Price To Rally As US CPI Inflation Cools To 2.9% - CoinGape

📈 Bitcoin's Upside
Bitcoin price surged after the U.S. CPI inflation cooled to 2.9%, down from 3% in June. With PPI inflation also easing, expectations for a Fed rate cut in September have risen, boosting crypto markets.

📉 CPI & Core Inflation
Annual CPI inflation fell to 2.9%, while core CPI eased to 3.2%, the lowest since March 2021. Core inflation's monthly rise to 0.2% suggests potential for a rate cut, though the Fed will wait for more data.

🚀 BTC & ETH Prices
BTC is up 5% in 24 hours, trading at $61,403, with a low of $58,788 and high of $61,572. ETH gained 3%, trading at $2,733, with a low of $2,633 and high of $2,775. Both volumes decreased, signaling reduced trader interest.

💹 Market Impact
The DXY dropped below 102.5 and the 10-year Treasury yield fell to 3.822%, supporting expectations for a Fed rate cut and positively impacting BTC’s rally. Traders should watch for further macro data.