Bitcoin’s price rose on Friday, approaching $78,749 after a 2% gain over 24 hours, peaking at $79,607. The rally comes despite data showing US consumer prices accelerated in August, with the CPI excluding food and energy rising 0.3% month-on-month. Traders see an 85% probability of Federal Reserve rate hikes next week, according to CME’s FedWatch tool. Treasury Secretary Scott Bessent announced plans to double long-dated bond buybacks, which benefited non-yielding assets like bitcoin.
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