Bitcoin’s price remained stable at $63,863 on Wednesday after data showed a slowdown in US inflation. The core consumer price index rose 0.2% monthly and 2.5% annually, its slowest pace since March 2021. These figures reduce pressure on the Federal Reserve to raise rates in September and open the door to rate cuts, which benefits bitcoin as a non-yielding asset. Despite massive inflows into spot Bitcoin ETFs last week, the biggest since April, bitcoin is down nearly 30% year-to-date.
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