Bitcoin (BTC<\/a>) headed higher into the Sep. 14 Wall Street open despite fresh macro data showing resurgent United States inflation.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> followed BTC price action as it made new September highs, topping out at $26,762.<\/p>\n Bitcoin built on strength seen after the previous daily close<\/a>, ignoring the implications of the U.S. inflation rebound as confirmed by both the Consumer Price Index (CPI) and Producer Price Index (PPI) <\/a>August prints.<\/p>\n The latter came in at 1.6% year-on-year against market expectations of 1.3%.<\/p>\n Crypto nonetheless joined traditional markets in rejecting the idea that U.S. macro policy might stay more restrictive for longer in order to tame inflation. <\/p>\n According to CME Group\u2019s FedWatch Tool<\/a>, there was practically no consensus over the Federal Reserve raising interest rates again later in the month. On the contrary, odds of a rate hike pause stood at 97% at the time of writing.<\/p>\n The disconnect between the data and market sentiment was underlined by a decision by the European Central Bank (ECB) to hike rates by 0.25% on the day.<\/p>\n \u201cThis is their 10th consecutive rate hike putting rates at 4.5%, their highest since 2001,\u201d financial commentary resource The Kobeissi Letter wrote in part of a reaction<\/a> on X (formerly Twitter). <\/p>\n \u201cThe ECB also cut all their growth forecasts through 2025. The fight against inflation is far from over.\u201d<\/p><\/blockquote>\n Kobeissi added that although the ECB had signalled that the latest hike could be the last in the current cycle, futures markets were still 30% sure of continuation.<\/p>\n \u201cCentral banks around the world are bracing for a LONG pause with elevated rates,\u201d it concluded.<\/p>\n Eyeing the state of play on Bitcoin, market participants were hopeful that another leg up would take BTC\/USD to $27,000.<\/p>\n Related:\u00a0Bitcoin price can hit $46K by 2024 halving \u2014 Interview with Filbfilb<\/a><\/em><\/strong><\/p>\n #Bitcoin<\/a> Knocking on the door of the $26.4K level again.<\/p>\n It’s key to break this level to leave this post grayscale dump range and attempt at filling the inefficiency up to ~$27K. https:\/\/t.co\/yY0tiWT58w<\/a> pic.twitter.com\/gkTLNKP5gB<\/a><\/p>\n \u2014 Daan Crypto Trades (@DaanCrypto) September 14, 2023<\/a><\/p><\/blockquote>\n \u201cBitcoin still acting out the Power of Three setup — pushing into the local resistance,\u201d popular trader Jelle told<\/a> X subscribers in part of the day\u2019s analysis. <\/p>\n \u201cBreak above $26,400 and I got my eyes on $27,600 next.\u201d<\/p><\/blockquote>\n More conservative on the outlook for BTC price strength was trader and analyst Rekt Capital, who eyed an ongoing repeat of a chart fractal from 2021 \u2014 Bitcoin\u2019s latest all-time high.<\/p>\nBitcoin gains while U.S. PPI beats forecast<\/h2>\n
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BTC price predictions pass $27,000<\/h2>\n
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