Bitcoin · Federal Reserve (FED) · Kevin Warsh · CME Group · Decrypt
Open interest across crypto futures rose 1.52% to $429.99 billion, with 24-hour trading volume up 2.27% to $877.11 billion
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Bitcoin opened Friday at $76,529 and briefly dipped toward the day's $76,040 low in the minutes after the CPI print, an initial hawkish reaction before the market reversed hard.
Key facts
- Open interest across crypto futures rose 1.52% to $429.99 billion, with 24-hour trading volume up 2.27% to $877.11 billion
- Bulls have since taken over, for now, and BTC climbed as high as $79,837 through the session and now trades near $79,007, a 3.24% gain on the day nearing the psychologically significant $80K mark
- The key zone to watch sits below current prices: a Fibonacci leg drawn off the summer's $68,858 low to the $82,281 high hit in late August puts Bitcoin's golden zone, the retracement band bulls need
- Bitcoin opened Friday at $76,529 and briefly dipped toward the day's $76,040 low in the minutes after the CPI print, an initial hawkish reaction before the market reversed hard
Summary
August CPI rose 3.4% year over year and 0.4% month over month, both matching consensus, per Bureau of Labor Statistics data released Friday. Core inflation cooled to 2.4% annually, its lowest since 2021, but its 0.3% monthly reading ran hotter than the 0.2% economists forecast. Crypto rallied across the board: total market capitalization climbed back near $2.7 trillion, the Fear & Greed Index jumped to 73 (greed) and Bitcoin's daily chart now shows a nascent golden cross. U.S. inflation data gave the market a mixed bag today, with the core monthly reading coming in hotter than economists had penciled in, but with most numbers generally in line with expectations. Bitcoin initially dipped on the news, but has since bounced back and is once again nearing $79,000, as the broader market digests what it means for the Federal Reserve’s forthcoming decision on interest rates next week.