Bitcoin Bulls Target $137K as Fed Rate Cut Odds Surge

The Bitcoin market is buzzing after the latest US Consumer Price Index (CPI) report fueled expectations for a September interest rate cut. While inflation remains steady at 2.7% year-over-year, with core CPI increasing by 3.1%, this data reinforces hopes of monetary easing and boosts investors’ confidence in risk assets, including Bitcoin. This has led traders to predict a 94% chance for the Federal Reserve to cut rates in September, according to CME FedWatch data.