Bitcoin Jumps to $85,500 on Cooler U.S. Inflation Data

Bitcoin briefly surged to $85,500 on September 30 after U.S. data showed August PCE inflation was lower than expected.

The PCE price index increased by 0.3% from July, while core inflation rose 3.4%, with core inflation at 3.0%

However, the move was short-lived as Treasury yields remained high, limiting the rebound in Bitcoin's price.

By early Asian trading, the cryptocurrency had fallen back to around $83,700, giving up most of its initial gain.