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Bitcoin Slips Below $64K as US Inflation Data Fails to Spark Rally

Guavy AI Editorial Team
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BTC
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Bitcoin's price slipped to around $63,500 after the latest US inflation data was released. The numbers showed a 0.1% monthly rise and 3.4% annual increase in inflation, which matched expectations.

This news eased concerns about immediate Federal Reserve rate hikes, but it didn't trigger a strong rally in cryptocurrencies. While gold and stocks saw modest gains, most cryptocurrencies declined.

Market focus is now shifting to upcoming events like the Jackson Hole central bankers' meeting, the September jobs report, and the next inflation release for fresh catalysts. These events could potentially impact the market and drive prices up or down.

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