Bitcoin rose sharply for a time immediately after the release of new U.S. inflation data, as easing concerns about annual inflation pressures drew buying into the broader virtual asset market.

【Bitcoin Surges 4.5% Immediately After Inflation Release】

According to overseas crypto media outlet Coingape, Bitcoin at one point traded at $79,387.86, up 2.89% over 24 hours. The total virtual asset market capitalization also grew 2.36% to $2.69 trillion. Ripple (XRP) traded around $1.40, while Ethereum climbed to its highest level in seven months amid the broad market rally.

Coingape reported that within an hour of the U.S. inflation data release, Bitcoin rose 4.5% to surpass $79,000. During the same period, Ethereum jumped more than 8% to record $2,640 for the first time in seven months. Stock, gold, and silver prices also rose in tandem, showing broad demand across both risk assets and defensive assets.

【Core CPI Slows to 2.4%, Lowest in 66 Months】

According to Coingape, the annual core Consumer Price Index (CPI) growth rate slowed to 2.4%, marking its lowest level in 66 months. Core CPI excludes food and energy prices and indicates underlying inflation trends. Coingape explained that as price pressures from housing, services, and everyday goods eased, expectations grew that the U.S. Federal Reserve (Fed) could pursue a more accommodative policy.

The headline CPI growth rate remained at 3.4%. Coingape reported that oil prices that rose during the Iran conflict had some impact. The market interpreted these price pressures as stemming from supply disruptions rather than new demand-driven increases, and this distinction was cited as the background for virtual assets and traditional asset prices rising together immediately after the release.

【Rate Market Reaction Mixed... "85% Probability of Fed Rate Hike"】

However, Coingape reported that despite the slowdown in annual core inflation, the rate market reacted differently. The market-implied probability of a Fed rate hike rose to as high as 85%, as the monthly core CPI rose 0.3%, exceeding the market expectation of 0.2%. According to Coingape, the so-called "supercore" services inflation, which excludes energy and housing costs, remained elevated and drove the increase. Coingape explained that because oil prices are not included in supercore inflation, the strong trend in this indicator could suggest that demand pressures within the U.S. persist.

Rate market participants paid closer attention to the monthly inflation pace than to the slowdown in annual core inflation. Coingape said this was the opposite reaction to that of investors who weighted the broader trend of easing inflation. These mixed responses increased uncertainty ahead of the Fed's decision scheduled for September 16 (local time). Coingape explained that the Fed faces a choice between weighting monthly services price pressures or continuing to watch the improving trend in annual inflation indicators.

【"If It Breaks $80,000, Then $82,000 → $84,000"... Technical Indicator Signals】

Bitcoin approached $80,000 after rising in response to the CPI release. Coingape reported that if Bitcoin breaks above $80,000, the upward momentum could strengthen and test higher resistance levels. According to Coingape's Bitcoin price outlook, $80,000 stands out as a key resistance level, with rising trading volume underpinning the current recovery. If Bitcoin closes definitively above this level, the next target price zones mentioned are $82,000 and then $84,000.

Coingape also reported some positive signals from technical indicators. The Moving Average Convergence Divergence (MACD) crossed upward, and the histogram indicator turned positive at 13.86. However, Coingape noted that both MACD lines remain below zero, meaning the current price recovery needs further confirmation. The Relative Strength Index (RSI) rose to 54.98, placing Bitcoin in neutral territory. Coingape said this figure shows that price momentum is improving without entering overbought conditions.

Conversely, Coingape forecast that if Bitcoin fails to break above $80,000, it could be pushed back down to the $78,000 support level. It added that if selling pressure intensifies further, $76,000 could be cited as the next major downside target.

[This article is by no means investment advice. The content may reflect only opinions, so please do not use it as a reference or material for investment decisions. All investments are made at each individual's own judgment, and the final responsibility lies with the investor. This publication bears no responsibility whatsoever.]