The monthly inflation readings have gained prominence this year, because they influence Fed policy and the demand for the dollar, often a countervailing factor in the price of bitcoin. The dollar index, which tracks the greenback’s value against major currencies, has rallied by 11% this year, as the Fed embarked on its most aggressive tightening cycle in over two decades. Bitcoin has dropped by 50%.
Source: https://www.coindesk.com/markets/2022/08/09/inflation-probably-slowed-in-july-cpi-report-but-not-enough-to-trigger-crypto-bull-run/?utm_medium=referral&utm_source=rss&utm_campaign=headlines