August CPI did little to get crypto moving, leaving big players like Bitcoin stuck in neutral. With the Fed’s next call on rates just around the corner, the market’s collective shrug feels less like uncertainty and more like a deliberate holding pattern.
Summary
- Crypto markets showed little reaction after August CPI rose 2.9%, leaving Bitcoin and other major tokens largely flat.
- Total crypto market cap inched up 0.18% to $3.96 trillion amid neutral investor sentiment.
- Traders now focus on the Fed’s September 17–18 policy decision, with markets pricing in a likely quarter-point rate cut.
The numbers from the Bureau of Labor Statistics on September 11th showed the Consumer Price Index climbing to a 2.9% annual rate, edging up from July’s 2.7% on the back of persistent energy and grocery bills.
Meanwhile, the core CPI reading, which strips out those unpredictable food and energy costs, held firm at 3.1%. The data landed against a complex backdrop of rising jobless claims and revised payroll numbers that painted a murkier picture of the underlying economy.
For crypto traders, the latest CPI report did not appear to be a main event. Risk markets treated its arrival as the final piece of macroeconomic scenery set before next week’s true headliner: the Federal Open Market Committee’s policy decision.
Crypto’s muted response to CPI report underscores broader caution
The total crypto market cap edged up 0.18% to $3.96 trillion, yet the move concealed a lack of conviction beneath the surface. Bitcoin (BTC) was essentially unchanged at $114,221, with Ethereum (ETH) and Ripple (XRP) sliding more than 0.5% each over the past 24 hours, according to crypto.news data.
Sentiment indicators added further nuance. The Crypto Fear & Greed Index he
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Author: Brian Danga
