Inflation Probably Slowed in July, but Not by Enough to Trigger Crypto Bull Run

The monthly inflation readings have gained prominence this year, because they influence Fed policy and the demand for the dollar, often a countervailing factor in the price of bitcoin. The dollar index, which tracks the greenback’s value against major currencies, has rallied by 11% this year, as the Fed embarked on its most aggressive tightening cycle in over two decades. Bitcoin has dropped by 50%.