Bitcoin rises despite core inflation exceeding expectations as Fed rate decision approaches
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Bitcoin gained value following the release of August core inflation data that exceeded market expectations in the United States. The Federal Reserve is anticipated to make a rate decision in the coming week. Markets may have already priced in the expected Fed rate increase ahead of the announcement.
Bitcoin gained following August core inflation data that exceeded expectations in the United States, even as the Federal Reserve is expected to deliver a rate decision in the coming week. Over the past 30 days the price is up 22.6%, while the past 7 days show a 2.3% decline, with price holding above both the MA50 and MA200. The non-obvious dynamic here is that when a rate move is already priced in, a worse-than-expected inflation print does not trigger fresh selling pressure because it no longer updates the market's rate path estimate, and the removal of that uncertainty can itself generate short-term buying.
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