US inflation slowed to 3.4% year-over-year in July from 3.5% in June, with core inflation dropping from 2.6% to 2.5%, reassuring Wall Street and reducing the probability of a Fed rate hike in September from 54% to approximately 40%. The S&P 500 gained 0.26% and the Nasdaq 0.54%, driven by artificial intelligence-related stocks, while the Kospi surged 4.4% and the Nikkei 1.9%. Bitcoin remains stuck around $63,500 to $64,000, trapped within its range between $62,000 and $66,000 for several weeks, despite $227 million in net inflows into US spot Bitcoin ETFs, their fifth consecutive positive session. As long as Bitcoin does not close decisively above $66,000 or below $62,000, analysts say hibernation remains the dominant scenario.
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