Bitcoin’s Price Jumps Above $85,000 on Lighter-Than-Expected Inflation Data
By Mathew Di Salvo
AI summary of the source article
Bitcoin's price rose above $85,000 following August personal consumption expenditures data that showed headline inflation at 3.4% and core inflation at 3%, both below expectations. The asset reached as high as $85,518 before trading around $84,246. The cooler inflation figures reduced market expectations for an October Federal Reserve interest rate hike.