**Bitcoin Takes a Rollercoaster Ride Amid Inflation News**

Bitcoin saw a wild ride recently, with its price jumping 5% to $61,791 between Aug. 13 and Aug. 14, only to plummet to $58,914 within two hours. The initial surge came from big news on Bitcoin ETFs and MicroStrategy's holdings. However, the excitement was short-lived as the US reported lower-than-expected inflation figures, causing a quick downturn.

Goldman Sachs revealed $418 million in new Bitcoin ETF holdings, marking a significant step as they manage $2.81 trillion in assets. Yet, other financial giants like JPMorgan and Bank of America remain cautious, restricting their advisors from recommending Bitcoin ETFs.

Adding to the buzz, Norges Bank, the Swiss National Bank, and South Korea’s National Pension Service disclosed substantial holdings in MicroStrategy shares, further spotlighting Bitcoin.

The drop in Bitcoin's price seems tied to the US Department of Labor's report showing a 2.9% rise in the Consumer Price Index over the past year, the lowest since March 2021. This has bolstered confidence that the Federal Reserve might cut interest rates in 2024.

Despite Bitcoin's recent dip, it could still shine if the global economy slows down, potentially becoming a valuable asset during economic uncertainty. However, it's too early to predict this outcome.

Remember, investing in Bitcoin involves risks, and it's crucial to do thorough research before making any decisions.