Bitcoin Holds Strong Near $118K as CPI Data Fuels Rate Cut Bets

  • Bitcoin (BTC) hovered near $117,800 during Asian trading hours Wednesday, consolidating gains as Junes U.S. CPI report showed continued disinflation. The core Consumer Price Index rose just 0.1% month-over-month for the fifth consecutive time, boosting expectations of a potential Federal Reserve rate cut in September.