Bitcoin rebounded past $79,000 and rose toward $80,000 as US core CPI increased 0.3% month-on-month, above the 0.2% expected increase. Market-implied odds of a Federal Reserve rate hike at the Sept. 16 meeting rose to 85%.

Bitcoin rebounds past $79,000 toward $80,000

Bitcoin rebounded past $79,000 and rose toward $80,000.

Core CPI rises more than expected

US core CPI increased 0.3% month-on-month, above expectations for a 0.2% increase.

Rate-hike expectations climb

Market-implied odds of a Federal Reserve interest-rate hike at the Sept. 16 meeting rose to 85%, up from 60% a week earlier. The earlier odds referred to a 0.25% rate increase.

Bitcoin bulls had faced a limited outlook

QCP Capital said Bitcoin bulls had little to look forward to.