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The price of Bitcoin slightly rose after the US consumer price index data showed a 2.7% increase in inflation for July, in line with economists' expectations, (CPI).
The data from the consumer price index ( CPI ) shows that despite ongoing inflation, the market was not caught off guard, thus Bitcoin reacted relatively flat at $118,500.
Analysts predict a 90% chance that the Federal Reserve will cut interest rates in September, and Bitcoin may not be affected by the consumer price index ( CPI ) report.