After the release of CPI data, cryptocurrencies, gold, and U.S. stocks posted short-term declines before rallying.

Following the release of CPI data, cryptocurrencies, gold, and U.S. equities all saw short-term moves of first declining then rallying. Per HTX market data, Bitcoin quickly dropped from $64,452 to near the $64,000 level after the data was published, before rebounding again. As of press time, Bitcoin is trading at $64,146.37, with a 24-hour gain of 0.83%. According to Bitget data, U.S. stock futures dipped slightly in the short term before surging back, with Nasdaq 100 futures extending their rise to 0.9%. Spot gold fell roughly $30 in the short run, then climbed more than $20, and is now trading at $4,412.38 per ounce. Initial market analysis notes that the July U.S. core inflation figure came in mild, which may ease pressure on the Federal Reserve to raise interest rates.