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Forex

Bitcoin and Gold Surge as US Inflation Data Fuels Rate Hike Bets

Guavy AI Editorial Team
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USD
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Bitcoin (BTC) and Gold (XAU) saw gains on Friday after US inflation data was released, showing that Consumer Price Index (CPI) remained steady at 3.4% in August.

The Federal Reserve's interest rate hike bets surged to an 87% chance next Wednesday, up from 72% the previous day, according to the FedWatch tool.

Bitcoin trades near $79,000, maintaining a bullish near-term bias as price holds well above the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs).

Gold has climbed to $4,367, with immediate resistance at key psychological levels around $4,400.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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