Behind Bitcoin | Crypto

July's PCE inflation reading held at 3.7% headline and 3.3% core on Aug. 26, both still above the Fed's target. Futures markets responded by pushing the odds of a September rate hike to roughly 44%, up from 36% before the report. Bitcoin hit an intraday high of $79,251.60 the same day, trading near $78,000 as […] The post Behind Bitcoin’s sudden resilience is a $2 billion cash surge that wiped out speculative leverage appeared first on CryptoSlate.