Bitcoin trading flat following uptick in U.S. inflation to 3.2% Quick Take
The recent U.S. Consumer Price Index (CPI) data reveals a stronger inflationary trend than the previous month. Headline inflation has risen to 3.2% from 3% in June, lower than expected, with forecasts coming in at 3.3%.
Concurrently, core inflation remained steady with the forecast, manifesting at 4.8%, but came in at 4.7% year over year, 0.1% lower than forecasts.
Bitcoin reacted slightly positively to the news towards acceleration in headline inflation, up 0.48%.
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Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.