US August CPI meets expectations, market bets that the Fed will cut rates at least twice this year! Bitcoin falls below 114,000, Ethereum loses support at $4,400.

The US CPI was officially released in August, the data showed that the CPI was in line with expectations, and the market still bet that the US Federal Reserve will cut interest rates at least 2 times this year, but the cryptocurrency market was volatile, and bitcoin rushed up and down. (Summary: The US PPI in August is far lower than expected, and the core PPI hit the largest monthly decline in nearly a decade!) Trump: No inflation, Powell should cut interest rates sharply immediately) (Background add: Kill!) U.S. non-farm payrolls were revised down by a record 911,000, bitcoin narrowly lost 110,000, and Ethereum fell below $4,300) The U.S. Bureau of Labor Statistics (BLS) released the August consumer price index (CPI) report on the evening of September 11, which pointed out that the annual CPI growth rate in August was 2.9%, up from 2.7% in July, but in line with expectations; On a monthly basis, the CPI grew by 0.4% in August, slightly higher than the market expectation of 0.3%, and showed a significant increase from the previous value of 0.2%; Core CPI grew at an annual rate of 3.1% and a monthly increase of 0.3%, unchanged from both expected and prior. It is also worth noting that the number of initial jobless claims in the United States recorded 263,000 in the week ended September 6, higher than market expectations of 235,000 and the highest since October 23, 2021. The market is betting on the Fed to cut interest rates at least twice this year For the latest CPI report, some analysts pointed out that although the CPI is in line with expectations, it still does not prevent the Fed from restarting rate cuts, and traders are betting that the Fed will take at least two rate cuts this year. According to CME Group's Fed Watch tool, the market is almost certain that the Fed will restart rate cuts this month, with an 89.1% chance of a 1-yard rate cut and a 10.9% chance of a 2-yard rate cut, up from 8.9% a day ago. It is also worth noting that the market is betting on the probability of the Fed taking consecutive interest rate cuts in October and December at 80.6% and 77.4%, respectively. Bitcoin fell below $114,000 The cryptocurrency market reacted violently to the CPI report, bitcoin quickly fell below $114,000 after the report was released, and the writing is tentatively quoted at $113,544, giving back the previous gain, down 0.28% in the past 24 hours; Ethereum lost $4,400, with the lowest pin at $4,351 and tentatively trading at $4,394 at time of writing, down 0.26% in the past 24 hours. Related reports Gold broke through a new high of $3,600 "experts shout it will rise", the US unemployment rate collapsed, interest rate cuts and risk aversion market is good for Bitcoin? The US SEC and CFTC issued a joint statement "coordinated supervision": explore predicting market thresholds and introducing perpetual contracts The US Department of Commerce put US GDP data on the chain for the first time, and TRON became one of the designated public chains (US CPI in August was in line with expectations, and the market bet that the Fed would cut interest rates at least twice this year!) Bitcoin falls below $114,000 and Ethereum loses $4,400" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".