US CPI Data Sparks Risk-Asset Upside as Bitcoin Eyes $80,000 Mark

US CPI Data Sparks Risk-Asset Upside as Bitcoin Eyes $80,000 Mark

US CPI data delivers upside to crypto and risk assets while US 30-year bond yields briefly spike to their highest since June 2004.

Bitcoin Price Spikes, Shrugs Off Hot US Inflation Data

Bitcoin’s price rose on Friday — despite data revealing that U.S. inflation had risen.  The biggest cryptocurrency by market cap was recently trading for close to $78,749 after jumping 2% over a 24-hour period. At one point on Friday morning in New York, bitcoin rose as high as $79,607.  Bitcoin’s price spike came after news dropped that U.S. consumer prices accelerated in August, reinforcing ​expectations that the Federal Reserve will raise int…

Bitcoin Price Spikes, Shrugs Off Hot US Inflation Data - Bitcoin Magazine

Bitcoin Price Spikes, Shrugs Off Hot US Inflation Data Bitcoin Magazine

Bitcoin rises as inflation data meets a hawkish Fed bet

Bitcoin rose past hot inflation data toward 80,000 as Fed hike bets jumped. We read the resilience as fragile retail liquidity, not a bottom.

Bitcoin Price Surges Toward $80K After US CPI Data

Bitcoin price jumped sharply following the latest U.S. inflation report, as cooling annual core inflation boosted sentiment across cryptocurrency and traditional markets. Bitcoin traded around $79,387, gaining 2.89% over 24 hours, while the total crypto market capitalization rose 2.36% to $2.69 trillion. BTC briefly surged more than 4% following the CPI release, breaking above $79,000. Ethereum climbed over 8% during the initial reaction and rea…