Bitcoin and Ethereum Surge as US Inflation Eases to 2.7% in July

Bitcoin and Ethereum experienced significant price gains following a report indicating that the US inflation rate cooled down to 2.7% in July. This moderation in price pressures suggests a potential easing of monetary policy by the US Federal Reserve, leading to increased attractiveness of riskier assets like cryptocurrencies. Investors reacted favorably to this news, driving up the values of both Bitcoin and Ethereum. Analysts believe that lower inflation could provide room for the Federal Reserve to cut interest rates in the near future, making assets like cryptocurrencies more appealing compared to low-yielding government bonds. However, investors are advised to exercise caution and conduct thorough research before making any investment decisions, as the cryptocurrency market remains volatile and susceptible to sudden changes.