Bitcoin and other major cryptocurrencies surged on Wednesday after July inflation data came in line with expectations, raising hopes for a Federal Reserve interest rate cut next month. The consumer price index report showed headline inflation holding steady at 2.7% year-over-year, matching forecasts and keeping the Fed’s easing path intact. Bitcoin traded near $119,000 following the data release, just 3% below its record intraday high of $123,166 reached in mid-July. The world’s largest cryptocurrency gained 0.3% over 24 hours as traders positioned for potential monetary policy changes. The July CPI reading met ... (full story)