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Bitcoin’s price dipped slightly before remaining mostly steady after data on Wednesday showed that U.S. inflation was subdued.
The price of the largest cryptocurrency recently stood at $63,863, mostly unmoved over a 24-hour period. Over the past week, Bitcoin is also flat.
The core consumer price index, which excludes often-volatile food and energy categories, rose 0.2% from a month earlier and increased 2.5% from a year earlier — the slowest pace since March 2021.
Energy and gas prices fell for a second month and grocery prices dropped for the first time since March, according to the print.
The news takes the pressure off Federal Reserve Chairman Kevin Warsh to raise…
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