Inflation Data Falls Flat for Bitcoin and Cryptos

Bitcoin remained relatively stable as July's inflation data came in line with expectations. The Consumer Price Index (CPI) inflation rate cooled to 3.4% year-over-year from 3.5% in June, a development that didn't spark significant market movement.

However, the lack of excitement was not reflected in the trading activity. Coinglass data showed that 70,067 traders were liquidated in the past 24 hours for $155.39 million.

In terms of fund flows, SoSoValue reported net inflows of $4.89 million from spot Bitcoin ETFs on Tuesday, while spot Ethereum ETFs saw net outflows of $1.8 million.

Not all assets are feeling the pressure, though. The past 24 hours have seen top gainers include Bitway, NEAR Protocol, and Stablecoin.