Bitcoin Edges Higher as U.S. Stock Futures Rise — Market Talk

Bitcoin rises marginally as U.S. stock futures climb after subdued U.S. inflation data Wednesday dampened expectations for an immediate interest rate rise by the Federal Reserve. "With both headline and core inflation cooling in July, the Fed can afford to take more time deciding whether tighter policy is warranted," XM analyst Raffi Boyadjian says in a note. However, the market reaction is somewhat muted as a rate increase in September cannot be ruled out given further data are due before the meeting and inflation remains too high, Boyadjian says. Moreover, inflation risks are still elevated without a deal on reopening the Strait of Hormuz, the analyst adds. Bitcoin rises 0.1% to $63,577, LSEG data show. ([email protected])