Crypto Market Holds Steady at $78K Amid Inflation Surprise

The cryptocurrency market remains in a constructive tone, with Bitcoin holding above $78,000. The US Personal Consumption Expenditures (PCE) Price Index inflation came in at 3.7% for July, higher than expected.

This suggests elevated inflation, but expectations for a September rate hike are fading, with markets pricing in a 38% probability of a 25-basis-point move in the next review cycle.

SPX6900 and VeChain recorded double-digit gains over the last 24 hours, emerging as top performers. SPX trades at $0.6167, extending a strong bullish phase after reclaiming territory well above both the 50-day and 200-day EMAs.