Bitcoin traded flat over the past 24 hours, despite stocks edging higher as investors digested new personal consumption expenditures (PCE) price index data, which showed inflation is cooling.

After the opening bell in New York, equity indices went green. The Dow Jones Industrial Average, S&P 500 and Nasdaq-100  increased 0.23%, 0.39% and 0.55%, respectively. In contrast to this, bitcoin, the largest digital asset by market cap, was changing hands at around $61,640 at the time of writing, having traded flat in the past 24 hours, according to The Block’s price page. 

The morning equity rally comes after Friday's U.S. Commerce Department report showed that inflation in May slowed to its lowest annual rate since 2021. The core PCE index, which excludes the more volatile …