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US inflation is cooling. July PPI came in at 0% MoM vs. +0.2% expected, while YoY fell from 5.5% to 4.7%. Core PPI rose just 0.2% vs. 0.3% expected. The softer data reduces September Fed hike odds and supports risk assets like crypto. But inflation is still above the 2% target, so it’s too early to call this a clear dovish pivot. $BTC #CPIPPIEaseFedSplit #SandiskInvestorDayRally #SP500Nears8000