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Bitcoin Slumps on US Inflation Data Failing to Spark Gains

Guavy AI Editorial Team
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BTC
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Bitcoin's price slipped on Wednesday after U.S. inflation data failed to spark gains in the cryptocurrency.

The August inflation report showed a 0.1% increase from July, which was within expectations but still left investors uncertain about future interest rate hikes.

As a result, Bitcoin dropped by 2.7% on Wednesday, trading at around $24,500. The price has been volatile in recent days, with some predicting further declines due to the uncertainty surrounding inflation and interest rates.

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