Bitcoin maintains gains as market prices in 85% chance of September rate hike

Bitcoin held its daily gains despite an August inflation report that increased the probability of a Federal Reserve rate hike to 85% for the September 15-16 meeting, according to Reuters. While headline inflation rose due to gasoline prices, core inflation showed mixed signals with a monthly acceleration despite a slight annual decline. Bitcoin was trading at $78,683 at the close of the US market week, reflecting a 2.08% increase over 24 hours.