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

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

Bitcoin price surged past $111,000 today after new U.S. inflation data showed a milder-than-expected rise in consumer prices, strengthening expectations that the Federal Reserve will move ahead with additional rate cuts this year.

The Consumer Price Index (CPI) rose 0.3% month-over-month in September, below economists’ forecasts of 0.4%, while “core” CPI — excluding food and energy — rose just 0.2%, also softer than expected.

On a year-over-year basis, both headline and core inflation registered 3.0%, slightly below estimates.

The release, delayed 10 days by the ongoing government shutdown, was one of the few major economic reports to make it out this month. An exception was made due to a legal requ