The United States released the Consumer Price Index (CPI) for August, with the Bureau of Labor Statistics reporting an annual increase of 2.5% compared to the previous year. This is a decrease from the previous 2.9%.

This data supports the possibility that the Federal Reserve (Fed) will decide to cut interest rates by 25 basis points (bps) at its upcoming meeting next week. This would be the first rate cut since 2019, leading to a rise in U.S. stock markets and other risk assets.

Data from U.S. Bitcoin Spot Exchange-Traded Funds (ETFs) indicated an outflow of $43.90 million. However, this decline is relatively small compared to the total Bitcoin reserves held by 11 funds, which have a total asset value of $49.34 billion under management.

Source: Fxstreet