Bitcoin Surges Above $79,000 as US CPI Data Sends Mixed Signals

Bitcoin (BTC) rose above $79,000 on September 11 after the US Consumer Price Index (CPI) data came in broadly in line with expectations. The annual core CPI slowed to a 66-month low of 2.4%, while monthly core CPI rose 0.3%.

This mixed reading sent mixed signals for Bitcoin, as it pushed implied odds of a Fed rate hike at the September 16 meeting to 85%. However, Treasury yields are rising on the news, with US 30-year bond yields spiking to their highest levels since June 2004 before pulling back to 5.309%.

Ethereum ETFs saw $216 million in net inflows, led by BlackRock's ETHA at $149 million. In contrast, Bitcoin spot ETFs recorded $13.29 million in net outflows on September 11, marking the fourth consecutive day of outflows.