Inflation Cools, Bitcoin Stalls as Fed Faces Its Next Big Test

U.S. inflation cooled for a second consecutive month in July, with the Consumer Price Index rising 0.1% on a seasonally adjusted basis. Despite this being the tamest inflation print in months, Bitcoin's price remained largely flat and shrugged off the data. While the energy-driven price shock is fading, inflation continues to stay above the Federal Reserve's 2% target. Consequently, crypto markets remained stagnant as Bitcoin showed little reaction to the subdued inflation gauge.