{"id":575981,"date":"2024-09-12T11:50:16","date_gmt":"2024-09-12T11:50:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=575981"},"modified":"2024-09-12T11:50:16","modified_gmt":"2024-09-12T11:50:16","slug":"bitcoin-price-prediction-btc-climbs-2-5-as-us-inflation-boosts-rate-cut-bets-and-this-new-ico-explodes-on-launch","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-climbs-2-5-as-us-inflation-boosts-rate-cut-bets-and-this-new-ico-explodes-on-launch","title":{"rendered":"Bitcoin Price Prediction: BTC Climbs 2.5% As US Inflation Boosts Rate Cut Bets, And This New ICO Explodes On Launch"},"content":{"rendered":"
The Bitcoin price climbed 2.5% in the last 24 hours <\/span>to trade at $57,964<\/span><\/a> as of 03:32 a.m. EST on trading volume that jumped 20% to $37 billion.<\/span><\/p>\n This comes after the release of the US inflation data, which signals optimism for a soft landing in the economy and bolstered bets on a 25 basis point Federal Reserve rate cut this month.<\/span><\/p>\n The latest Consumer Price Index (CPI) aligned with economists’ expectations, while the Core Inflation data exceeded expectations.<\/span><\/p>\n The first higher than expectation for Core CPI in 5 months. 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\n
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