Bitcoin Falls After US CPI Data Shows 2,9% Inflation in August

• Bitcoin Retreats After Inflation Surges Above Monthly Projection
• US CPI data reduces expectations for rate cut
• Cryptocurrencies feel the impact of rising inflation in August

The price of Bitcoin fell slightly on Thursday (11), trading below US$ 114.000, after the release of US inflation data for the month of August.

The Bureau of Labor Statistics report revealed that the Consumer Price Index (CPI) rose 2,9% year-over-year, surpassing the 2,7% rate recorded in July and in line with analysts' projections. In the monthly comparison, prices rose 0,4%, above the 0,3% forecast, reflecting inflationary pressures stemming primarily from rising food prices and stable energy prices.

The core CPI, which excludes volatile items such as food and energy, rose 3,1% on the year, while it rose 0,3% on the month, maintaining the pace seen in July — the highest since February.

In light of the report, doubts have grown about the Federal Reserve's willingness to cut interest rates at its next meeting, as the data points to persistent inflation. According to the CME's FedWatch tool, markets still price in a majority chance of a 25 basis point cut, but with less conviction than before.

Bitcoin, which had touched $114.500 hours earlier, retreated after the CPI release and is now hovering near $113.600. As a result, its market cap has fallen to $2,26 trillion, and its dominance over altcoins remains at 56%.

Among the day's highlights, the MNT (Mantle) token renewed its all-time high at $1,65, followed by AVAX, which jumped 7% and is approaching $30. Ethereum (ETH) is still trading above $4.400, after a slight rise of 2,3% in the last 24 hours.

The total cryptocurrency market cap remains above $4 trillion, quoted at $4,06 trillion, although short-term volatility remains present amid monetary uncertainty in the US.