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Bitcoin price sees $24K, Ethereum hits 2-month high as US inflation shrinks

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Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing.Data from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S.

Consumer Price Index (CPI) data for July showed a slowdown versus the previous month.While managing $24,179 on Bitstamp, BTC/USD nonetheless did not attract enough momentum to challenge levels from the day prior.Nonetheless, relief among traders was palpable, as declining inflation should signal to the Federal Reserve that less aggressive interest rate hikes are necessary going forward.

Read more on cointelegraph.com
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