Bitcoin Price Jumps to $111,000 as Softer CPI Data Fuels Rate-Cut Bets

The price of Bitcoin jumped above $111,000 after the release of U.S. inflation data showed a milder-than-expected rise in the Consumer Price Index (CPI) for September. Headline and core CPI both rose 0.3% and 0.2% month-over-month, respectively, below forecasts, leading markets to solidify expectations for a 25 basis point rate cut at the next Federal Reserve meeting and another in December. This positive economic news, which was delayed due to a government shutdown, caused Treasury yields to slip, the dollar to weaken, and the Nasdaq 100 to rise. This fueled Bitcoin's rally, which had recently seen dips despite analysts from firms like VanEck and Standard Chartered maintaining bullish long-term outlooks, predicting a rebound toward $200,000 by year-end.

(Source：Bitcoin Magazine)