Crypto Markets Lifted by Softer U.S. PPI, Bitcoin Tops $113.7K
U.S. wholesale inflation cooled in August, boosting risk assets and pushing bitcoin back above $113,700. The Producer Price Index fell 0.1% month-over-month, well below forecasts for a 0.3% rise. Core PPI also declined 0.1%, suggesting inflationary pressures continue to ease.
Bitcoin gained 1%, ether moved higher, and Solana advanced 3.3% to $224. Traders now await Thursday’s CPI release as markets weigh the likelihood of deeper Fed rate cuts. Odds of a 50-basis-point move have climbed to 10%, up from zero a week earlier, CME FedWatch shows.
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