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Bitcoin Dips on Hot CPI Release, Quickly Rebounds to $77.6K

Guavy AI Editorial Team
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BTC
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Bitcoin dipped to $76.7k after the hotter-than-expected August Consumer Price Index (CPI) release, but quickly rebounded to $77.6k.

The price movement indicates that markets have already factored in the Federal Reserve's remaining policy tightening this week.

On the 4-hour chart, Bitcoin is testing its upper Bollinger resistance at $78,766.22, while its EMA50 sits at $78,762.15 as immediate support and the EMA200 anchors the broader bullish structure.

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