US inflation held at 3.4% in August, with the Consumer Price Index rising 0.4% for the month. Core CPI, which excludes volatile food and energy costs, increased 0.3%, above economists’ expectations of 0.2%, although it fell from 2.5% to 2.4% year-on-year. Bitcoin initially dropped to around $76,050 following the report release before recovering above $77,100. Ethereum led the broader crypto market with a gain of nearly 3.2% to approximately $2,543. No wider crypto sell-off followed, indicating market resilience despite the higher-than-expected US inflation reading.
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