CoinShares: CPI data weighs on Bitcoin short-term, but Treasury buyback failure offers medium-term upside

CoinShares research head James Butterfill stated that Bitcoin faces a mix of short-term bearish and medium-term bullish factors. While higher-than-expected U.S. August core CPI data may limit immediate upside by increasing expectations for tighter monetary policy, the failure of the U.S. Treasury's expanded bond buyback program to lower long-term yields could trigger further intervention and currency devaluation concerns, potentially benefiting Bitcoin and gold. CoinShares suggests Bitcoin's short-term upside may be capped below $80,000.