Bitcoin dropped sharply after the release of U.S. inflation data, briefly falling below 76,100 USDT, according to Bitget market data. The cryptocurrency touched 76,004 USDT before rebounding to 76,530 USDT, leaving it down 1.51% over the past 24 hours.
The economic figures released at the same time showed mixed readings across headline and core inflation measures for August. U.S. core CPI, on an unadjusted annual basis, came in at 2.4%, matching the 2.40% forecast and below the previous 2.50% reading. Core CPI on a seasonally adjusted monthly basis was 0.3%, above the 0.20% forecast and the prior 0.20%.
Meanwhile, seasonally adjusted monthly CPI was 0.4%, in line with the 0.40% expectation and above the previous 0.10%. Unadjusted annual CPI was 3.4%, matching both the 3.40% forecast and the prior 3.40% reading.
Bitcoin fell after the release of U.S. CPI data, dropping to as low as 76,004 USDT before recovering to 76,530 USDT, according to Bitget market data. The token was down 1.51% over the past 24 hours.
U.S. August CPI readings
U.S. core CPI on an unadjusted annual basis for August was 2.4%, compared with a 2.40% forecast and a previous reading of 2.50%.
U.S. core CPI on a seasonally adjusted monthly basis for August was 0.3%, versus a 0.20% forecast and a prior reading of 0.20%.
U.S. CPI on a seasonally adjusted monthly basis for August was 0.4%, matching the 0.40% forecast and above the previous 0.10%.
U.S. CPI on an unadjusted annual basis for August was 3.4%, in line with the 3.40% forecast and the previous 3.40%.
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