Bitcoin Price Prediction: BTC Climbs 2.5% As US Inflation Boosts Rate Cut Bets, And This New ICO Explodes On Launch
The Bitcoin price climbed 2.5% in the last 24 hours to trade at $57,964 as of 03:32 a.m. EST on trading volume that jumped 20% to $37 billion. 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. The latest Consumer Price Index (CPI) aligned with economists’ expectations, while the Core Inflation data exceeded expectations. The first higher than expectation for Core CPI in 5 months. Last time it happened, $BTC 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. Currently FED is fighting the 2 wars:… pic.twitter.com/0urAkaa8mL — Degen Ape Trader (@Degen__Ape__) September 11, 2024 Bitcoin Price Bound For A Bullish Rally Bitcoin price bulls have continued to push the price, forming a complete cup-and-handle pattern. The to...