Bitcoin (BTC) Price: BTC Jumps 3% on CPI Data — But Analyst Says a Dip Is More Likely

Bitcoin briefly surged past $79,000 after August CPI data matched expectations at 3.4% year-on-year. Core CPI rose 0.3% month-on-month, slightly above forecasts. Fed rate hike odds jumped to 85-86% for September 16. Gasoline prices rose 3.9%, driving over a third of the CPI increase.