Bitcoin Remains Steady as US Core Inflation Persists at 2.9% in August

Bitcoin has remained stable, trading sideways following the release of inflation data for August. The August Consumer Price Index (CPI) report revealed that core inflation, which excludes volatile food and energy prices, remained unchanged at 2.9%, reflecting ongoing inflationary pressures within the US economy. This data has influenced various markets, including the cryptocurrency market, as investors await clear signals regarding the Federal Reserve’s monetary policy path. While Bitcoin did not immediately experience significant volatility, persistent inflation could lead to increased scrutiny of future Federal Reserve interest rate decisions. Market participants are closely monitoring upcoming economic data and Federal Reserve officials’ remarks for insights into the economic outlook and the potential implications for interest rates and various asset valuations.