Bitcoin’s $115K Surge Amidst CPI-Driven Debate as Traders Diverge on Price Dip

Bitcoin is nearing three-week highs as US inflation data matches expectations. While the August Consumer Price Index (CPI) release showed a continuation of inflationary trends, analysts foresee Bitcoin’s price climbing further as a result of recent market shifts. The CPI data fueled speculation for a Fed rate cut in September, with traders seeing a higher chance of a 0.25% increase rather than the anticipated 0.25% reduction. This dynamic spurred optimism about Bitcoin’s potential price surge, particularly after it briefly touched $114,731 on Thursday morning.