{"id":575798,"date":"2024-09-12T08:48:10","date_gmt":"2024-09-12T08:48:10","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=575798"},"modified":"2024-09-12T08:48:10","modified_gmt":"2024-09-12T08:48:10","slug":"bitcoin-surges-almost-3-as-us-inflation-data-signals-soft-landing-boosting-rate-cut-bets","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-surges-almost-3-as-us-inflation-data-signals-soft-landing-boosting-rate-cut-bets","title":{"rendered":"Bitcoin Surges Almost 3% As US Inflation Data Signals Soft Landing, Boosting Rate Cut Bets"},"content":{"rendered":"

Bitcoin<\/span><\/a> surged almost 3% following the release of US inflation data, signaling optimism for a soft landing in the economy and bolstering bets on a Federal Reserve rate cut this month.<\/p>\n

The latest US Consumer Price Index (CPI) data aligned with economists’ expectations, while core inflation slightly exceeded projections. That left analysts anticipating a 25 basis point rate cut in September rather than a more aggressive 50 basis points reduction.<\/p>\n

\"1,000+<\/p>\n

Bitcoin Rebounds From $55K To Reclaim $57K Support<\/span><\/h2>\n

In response, Bitcoin surged more than 3.1% in the past 24 hours to trade at $58,283 as of 4.33 a.m. EST, while the broader crypto market saw its market capitalization climb 2.6% to $2.05 trillion.<\/span><\/p>\n

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The first higher than expectation for Core CPI in 5 months.
Last time it happened, $BTC<\/a> had a big dip from 70k+ to 60k.
Not sure how will it impact the market this time. With this core CPI data, high chance FED will only cut 25bps on Sep 18.<\/p>\n

Currently FED is fighting the 2 wars:… pic.twitter.com\/0urAkaa8mL<\/a><\/p>\n

— Degen Ape Trader (@Degen__Ape__) September 11, 2024<\/a><\/p><\/blockquote>\n