Bitcoin (CRYPTO: BTC) surged back to $79,000 Friday, swinging nearly 4% in two hours after August CPI data pushed September rate hike odds to 80% on Polymarket.
Ethereum (CRYPTO: ETH) raced to $2,600, up 7% on the day.
What the CPI Data Showed
Wall St Engine flagged on X that August headline CPI rose 0.4% month over month and 3.4% year over year, both in line with estimates.
Core CPI, however, came in at 0.3% monthly against a 0.2% estimate, its biggest monthly increase since April and the print that shifted market expectations sharply toward a hike.
