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- Analysts said the US August CPI did not significantly change the market’s interest-rate outlook, allowing <a href="https://xpertsstudio.com/revolut-leak-ties-bitcoin-wallets-to-home-addresses/” title=”Revolut leak ties Bitcoin wallets to home addresses”>Bitcoin and Ether to post modest gains.
- The report said the CPI was not a signal strong enough to materially alter the Federal Reserve’s September rate path.
- It added that the current rise in Bitcoin is being driven more by institutional capital allocation than by excessive leverage.
Forecast Trend Report by Period
US consumer price data for August failed to materially alter the market’s interest-rate outlook, helping Bitcoin (BTC) and Ether (ETH) post modest gains, according to crypto-focused media outlet The Block.
The Block reported on September 13 that the US consumer price index data released on September 11 rose 0.4% from a month earlier and 3.4% from a year earlier. Energy prices pushed up the headline figure, while the cooling trend in core inflation remained intact. The report was not enough to change expectations for the Federal Reserve’s September rate path.
After the release, Bitcoin briefly neared $79,000 before retreating to around $77,800, while Ether moved above $2,500. The market reaction was muted, and gains in digital assets remained modest.
Market participants said the CPI report was not a strong enough signal to prompt a major reassessment of the Fed’s September rate trajectory. Lewis Huang, an analyst at Bitget, said headline inflation was lifted by energy prices while core inflation continued to cool, giving the Fed room to view part of the increase in headline prices as temporary.
Fabian Dori, chief investment officer at Sygnum Bank, said the rate outlook could be repriced if core inflation comes in stronger than expected. He added that Bitcoin’s current advance appears to be driven more by institutional allocation than by excessive leverage.
Source: en.bloomingbit.io