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MarketBitcoin
Sep 12, 2026
< 1min read
byCoin Edition
forCoinEdition
<img src="https://xpertsstudio.com/wp-content/uploads/2026/09/July-CPI-Comes-in-Cool-at-2.7-What-This-Means-for-the-Price-of-Bitcoin.jpg" alt="CPI Shock: Why the Initial Bitcoin Rally Reversed and What It Means for Crypto Prices Next” loading=”lazy”>
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- Core inflation readings came in stickier than expected, sparking a hawkish shift.
- Fed rate hike odds on Polymarket jumped from around 60% to above 85% overall.
- Bitcoin swung nearly $5,000 within 90 minutes following the CPI release today.
Bitcoin’s reaction to Thursday’s CPI report was a textbook positioning trap. Headline inflation held at 3.4% year-over-year, matching expectations and triggering an immediate relief rally across Bitcoin, crypto broadly, and US equities. That optimism unwound almost as fast as it appeared.
However, monthly CPI rose 0.4%, core CPI rose 0.3%, and core services excluding housing jumped 0.5%. That shift, not the headline number, flipped the market’s read on the Fed.
Rate Hike Odds Jumped Fast
Polymarket’s probability of a 25 basis point Fed hike surged from around 60% to above 85% following the data. Treasury yields moved higher …
Source: cryptorank.io