US Inflation Holds Steady, Bitcoin Recovers from Brief Dip

The August US inflation report showed that prices rose by 0.4%, higher than July's 0.1% increase and in line with economists' forecasts.

Inflation remained at 3.4% year-on-year, while the core inflation measure, which excludes food and energy costs, increased 0.3% but fell slightly from 2.5% to 2.4%

Bitcoin initially dropped to around $76,000 after the report's release, but quickly recovered and traded above $77,100.

The token's price range between $76,400 and $79,550 shows the uncertainty among traders about what this means for US interest rates.