Bitcoin rises after softer US inflation data

Bitcoin rose to roughly $85,400 after US inflation data came in softer than markets had expected in key measures. The annual Personal Consumption Expenditures index stood at 3.4 percent, while core PCE was 3.0 percent, below the 3.3 percent consensus estimate cited before the release.

Treasury yields eased and market-implied odds of an October Federal Reserve rate increase fell. Bitcoin gained alongside that shift after spending much of the preceding session around $83,000 to $84,000.

The reaction again tied crypto pricing to the cost of money rather than to a token-specific catalyst. A softer inflation print changes rate expectations immediately; whether that becomes sustained demand depends on the economic data that follows.