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Crypto

US Inflation Figures Boost Bitcoin Prices, but Elevated Yields Pose Challenge

Guavy AI Editorial Team
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BTC
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Bitcoin (BTC) prices surged above $79,000 on Friday after the release of US August inflation figures that matched market consensus.

The Consumer Price Index registered a 0.4% monthly increase and a 3.4% annual advance, exactly in line with analyst forecasts.

However, despite near-term price strength, QCP Capital cautions that elevated Treasury yields represent a significant obstacle for Bitcoin's trajectory.

Ted Pillows, a market analyst, expressed skepticism about the durability of Bitcoin's rebound, highlighting that the daily MACD indicator remains in a downtrend and Friday's price surge lacked substantial spot market support.

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