Bitcoin price climbed sharply after fresh United States inflation data eased concerns about persistent annual pressures.Â
The leading cryptocurrency traded at $79,387.86, gaining 2.89% over 24 hours. Its advance lifted the crypto market 2.36% to $2.69 trillion. XRP price hovered near $1.40, while Ethereum reached a seven-month high during the broader rally.
Bitcoin Price Surges Above $79K After Core CPI Hits 66-Month Low
Bitcoin price crossed $79,000 after gaining 4.5% within one hour of the inflation release. Ethereum rallied over 8% during that period, touching $2,640 for the first time in seven months. Stocks, gold, and silver improved, with a wide demand of risk and defensive stocks.
Annual core CPI slowed to 2.4%, its lowest reading in 66 months. The measure excludes food and energy providing a clear picture of underlying inflation. Housing, services and daily products were less stressed and the expectations of a gentler Federal Reserve policy were favored.
🇺🇸 CPI TODAY: BITCOIN READY FOR A BIG MOVE?
August U.S. CPI releases today at 8:30 AM ET / 6:00 PM IST.
Expectations:
Headline: 3.3–3.4% YoY
Core: 2.4% YoY / 0.2% MoMCOOL CPI → $BTC BULLISH
If Core CPI comes below 0.2%, Fed hike expectations could fall, potentially pushing… pic.twitter.com/ZDG1OHbGjH— Crypto Patel (@CryptoPatel) September 11, 2026
Headline CPI remained at 3.4%, partly because oil prices increased during the Iran conflict. The markets perceived that pressure to be a supply disturbance and not fresh demand-based inflation. This difference contributed to the explanation of the immediate increase of cryptocurrencies and traditional assets.
Hot Monthly Inflation Pushes Fed Rate Hike Odds to 85%
Despite the annual slowdown, rate markets raised the estimated probability of a Fed increase to 85%. Monthly core CPI increased by 0.3%, which is higher than the 0.2% consensus projection. The rise was led by firm supercore services, without energy and shelter.
Since the supercore inflation does not involve oil, its intensity may indicate the persistence of domestic demand. Interest-rate traders paid attention to that monthly rate of acceleration, as opposed to the annual core inflation fall. Their reaction was opposite to the investors who took the larger disinflation trend more seriously
Such reactions generated uncertainty ahead of the Fed decision to be made on September 16. Policymakers have to choose to either go with monthly service pressure and abandon the improvement in annual data or continue to improve it.
Bitcoin Price Eyes $80K as Markets Assess the Fed Outlook
Bitcoin price approaches $80,000 following its response to the CPI report. A breakout beyond that level may help pick up momentum and challenge greater resistance.
Bitcoin price was heading towards the important resistance level of $80,000 as the current recovery was being backed by the increased volume. An affirmed close beyond this level may be targeted at $82,000 then project to $84,000 as per the future BTC outlook.
The MACD crossover was bullish, and the histogram became positive at 13.86. However, both MACD lines remained below zero, suggesting the recovery still needs confirmation.
The Relative Strength Index increased to 54.98, which would put the Bitcoin in the neutral zone. This reading suggests an improving trend without overbought conditions.
Any failure to surpass $80,000 may initiate a second pullback to the $78,000 support. The next significant downside target is still $76,000 that can be revealed by higher selling pressure.