Bitcoin Surges Past $85,000 Following Softer Inflation Data

Bitcoin climbed above $85,000 after August inflation data showed a 3.4% headline increase and 3% core increase, both falling below expectations. The data suggests the Federal Reserve is less likely to raise interest rates in October. Bitcoin previously reached a high of $87,158 earlier this month, and analysts note that investors remain optimistic despite the central bank's ongoing monetary policy challenges. Additionally, the U.S. Treasury's plan to increase government debt repurchases has provided further support for risk-on assets.