Bitcoin price briefly rallied above $110,000 on Wednesday after US Consumer Price Index (CPI) data came in cooler than expected at 2.4% year-over-year (forecast: 2.5%). Core CPI also beat estimates at 2.8% (forecast: 2.9%). The US Dollar Index (DXY) plummeted to 98.5, a multi-month low, with markets swiftly adjusting to the Federal Reserve’s interest rate expectations. However, the odds of a Federal Reserve interest rate cut next week remain low as headline CPI is rising again for the first time since January 2025. The overall market sentiment around Bitcoin is bullish, and a cooler CPI print could potentially push ... (full story)