Bitcoin News Today: Bitcoin Eyes $115K After CPI Data, but Traders Split on Next BTC Move
Binance News
Sep 11・Verified Binance official account
AI Summary
Key Takeaways
Bitcoin spiked to $114,731 as U.S. CPI data came in line with expectations.
Fed rate cut bets strengthened, with markets now pricing in 75 bps of cuts by year-end.
Traders remain divided: some see BTC heading higher, others expect a dip to trap late longs.
Bitcoin Reacts to CPI Data
Bitcoin (BTC $114,649) saw sharp volatility at Wall Street’s open on Thursday as U.S. inflation data matched forecasts. The August Consumer Price Index (CPI) rose 0.4%, its highest level since January, while jobless claims surged to 263,000 — the weakest labor print since October 2021.
Markets interpreted the data as reinforcing expectations of a Federal Reserve rate cut on Sept. 17, with CME FedWatch showing an 11% chance of a 50 bps move. “Markets are now pricing in 75 basis points of rate cuts by year-end,” noted The Kobeissi Letter.
BTC/USD briefly topped $114,700, its highest level since Aug. 24, before consolidating.
Binance News
Sep 11・Verified Binance official account
AI Summary
Key Takeaways
Bitcoin spiked to $114,731 as U.S. CPI data came in line with expectations.
Fed rate cut bets strengthened, with markets now pricing in 75 bps of cuts by year-end.
Traders remain divided: some see BTC heading higher, others expect a dip to trap late longs.
Bitcoin Reacts to CPI Data
Bitcoin (BTC $114,649) saw sharp volatility at Wall Street’s open on Thursday as U.S. inflation data matched forecasts. The August Consumer Price Index (CPI) rose 0.4%, its highest level since January, while jobless claims surged to 263,000 — the weakest labor print since October 2021.
Markets interpreted the data as reinforcing expectations of a Federal Reserve rate cut on Sept. 17, with CME FedWatch showing an 11% chance of a 50 bps move. “Markets are now pricing in 75 basis points of rate cuts by year-end,” noted The Kobeissi Letter.
BTC/USD briefly topped $114,700, its highest level since Aug. 24, before consolidating.