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🌟Bitcoin CPI Relief Briefly Touches $112,000 Before Falling Again👇
Bitcoin experienced notable volatility last Friday, as fresh U.S. inflation data influenced both crypto and traditional markets. With a cooler-than-expected Consumer Price Index (CPI), investor optimism surged, boosting risk assets and pushing US stocks toward new record highs. This development has profound implications for the outlook of cryptocurrency markets and the broader economic landscape.
1️⃣Bitcoin's price action remains volatile following a lower-than-anticipated CPI report.
2️⃣Market sentiment shifts towards expectations of continued interest rate cuts by the Federal Reserve through 2026.
3️⃣Bitcoin faces resistance at $112,000, with key support levels beginning to re-emerge amid positive macroeconomic signals.
Bitcoin (BTC) showed significant fluctuations on Friday as U.S. inflation data bolstered investor confidence, pushing stocks to fresh all-time highs. The cryptocurrency market responded to the release of the September Consumer Price Index (CPI), which came in below expectations, fueling hope for more easing measures from the Federal Reserve.
BTC/USD one-hour chart. 📊
CPI Relief Sparks New Highs for US Stocks The CPI data revealed that both the headline and core inflation metrics dipped by 0.1%, hovering around 3%, according to an official Bureau of Labor Statistics release. These figures exceeded expectations, prompting a bullish response in markets and raising expectations for potential interest rate cuts in the near term.
CPI 12-month % change.✅
Markets showed strong momentum, with the S&P 500 reaching new heights. The CME Group's FedWatch Tool indicated overwhelming odds of a 0.25% rate reduction at the upcoming October FOMC meeting.
🌟Fed target rate probabilities for October FOMC meeting (screenshot).
#CPI #HotTopicDiscussion #CryptoRegulationAcceleration