Bitcoin topped $85,000 and gold jumped within minutes of Wednesday's US inflation data. The personal consumption expenditures price index rose 3.4% from a year earlier, below the 3.7% forecast and down from July's 3.7% reading. Core inflation also came in below forecasts. CME FedWatch data put the chance of an October Federal Reserve rate increase at less than 40% after the release, down from 72.5% as of September 28. However, stronger-than-forecast growth and consumer spending kept another increase in play.
