Bitcoin Climbs on Cooling Inflation, but Caution Persists Ahead of CPI
Softer-than-expected U.S. wholesale inflation gave crypto markets a boost Wednesday, with bitcoin rising to $113,700. The PPI dropped 0.1% in August, reversing July’s 0.9% rise and underscoring easing price pressures. Core PPI also fell unexpectedly.
Despite the relief rally, analysts warn momentum may not last. Gold continues to hit new highs on dovish signals, while bitcoin has struggled to sustain gains. Traders now eye CPI data for confirmation before the Fed’s meeting next week.
PPI Miss Fuels Risk-On Sentiment; Bitcoin Breaks Past $113K
