Bitcoin

This event fits into a pattern of disinflationary blips that have not altered central bank hawkishness. Real yields remain elevated, and the crypto market's high correlation with tech stocks means any reversal in inflation could trigger renewed selling. The temporary nature implies that the underlying supply-side pressures (e.g., energy costs, geopolitical tensions) are unresolved, keeping the risk-off bias intact.

Food prices have fallen and inflation fell in June, but analysts warn the decline is temporary.