Bitcoin prices have received a fresh boost as traders eye further gains as markets calm over the Federal Reserve's interest rate policy.

Bitcoin opened higher in U.S. trading last night despite new macro data showing a resurgence in U.S. inflation.

The data tracked BTC price action, which hit a new September high, peaking near $26,780.

Bitcoin built on the previous day’s post-close strength, ignoring the impact of a rebound in U.S. inflation, as evidenced by both Consumer Price Index (CPI) and Producer Price Index (PPI) August data. The latter grew 1.6% year over year and 1.3% year over year, beating market expectations.

Still, cryptocurrencies, like traditional markets, reject the idea that U.S. macro policy may remain tighter for longer to curb inflation.

There is little consensus on the Fed raising interest rates again later this month, according to CME Group's FedWatch tool. Conversely, the likelihood of a pause in rate hikes is 97%.

The European Central Bank's (ECB) decision to raise interest rates by 0.25% on the day highlighted the disconnect between data and market sentiment.

Looking at the development of Bitcoin, market participants are hoping for another rise towards $27,000.

I think Bitcoin now has momentum for a short-term rebound, but it's still not strong. Therefore, it remains to be seen whether the rebound can be sustained. If the price can break through $27,000 strongly, the recent decline will change and the price will rise further. However, the strong resistance area above is in the area of ​​$27,000 to $28,000, and it will be difficult to break through further. In the short-term trend, if it can fall back to $26,000 without breaking, you can continue to buy long orders. Trading requires skills, and it will be easier to make profits if you follow the trend. $BTC