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09/11 16:15

Bitcoin Drops Then Recovers as U.S. CPI Inflation

Bitcoin Drops Then Recovers as U.S. CPI Inflation Hits 2.9%
 
Key Insights:

US CPI rose 2.9% in August, reinforcing expectations of a Federal Reserve interest rate cut.
Bitcoin briefly fell below $114,000 after the CPI release before regaining momentum above key resistance.
Analysts warn $114,000 remains a critical resistance level, with $111,000 identified as the next support zone.
Bitcoin Drops Then Recovers as U.S. CPI Inflation Hits 2.9%
Bitcoin Drops Then Recovers as U.S. CPI Inflation Hits 2.9%
The US Consumer Price Index rose 2.9% in August from a year earlier, according to the Labor Department. The figure was in line with expectations and followed a 2.7% increase in July. On a monthly basis, CPI rose 0.4%, just above the 0.3% estimate.


Core CPI, which excludes food and energy, advanced 3.1% year-on-year and 0.3% month-on-month. The steady reading adds weight to expectations that the Federal Reserve will cut interest rates at its meeting next week.

The Producer Price Index slowed to 2.6% year-on-year, far below the 3.3% forecast. The decline reflected weaker trade services margins and modest gains in goods costs. The softer PPI figure added to bets on upcoming Fed cuts.

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