July's CPI data point came in at 8.5% headline YoY growth and 5.9% core.
A decline in gas prices, stemming from decreased demand, worked to offset increases in electricity, food and shelter prices to bring CPI down for the first month since April.
Despite being in a meaningless "technical bull market", signs still point to a high probability of an extended pullback in equity prices in the coming sessions.
COIN, MARA and CLSK reported earnings this week, further illustrating the result that declining asset prices have on crypto-exposed companies.
Hash ribbons are indicating that a bottom is likely near for mining rig capitulation, as indicated by the 30-day MA of hash leveling.
Mining difficulty has also likely bottomed, which would be a second signal that validates the end of miner capitulation.