Bitcoin Jumps on Cool PCE Inflation Data as Bond Yields Hit 20-Year Highs
Bitcoin moved above $85,000 after a softer-than-expected U.S. PCE inflation reading, with one report saying it briefly reached $85,500 before slipping back. Another report said August PCE inflation rose 3.4% annually, while elevated Treasury yields kept pressure on risk assets.
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In practice, the softer inflation reading did not erase the effect of elevated Treasury yields, which remained a drag on risk assets. The backdrop also still included August PCE at 3.4% annually, so the inflation data changed the day’s reaction without changing that figure.
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What Inflation (US CPI) has done before
| When | What happened | Figure |
|---|---|---|
| 2 months ago | Inflation (US CPI): 336.298 (+2.17) rise | Sep 2026 |
| 3 months ago | Inflation (US CPI): 334.131 (+1.32) rise | Aug 2026 |
| 4 months ago | Inflation (US CPI): 332.813 (+0.25) rise | Jul 2026 |
| 5 months ago | Inflation (US CPI): 332.568 (-1.41) fall | Jun 2026 |
| 6 months ago | Inflation (US CPI): 333.979 (+1.57) rise | May 2026 |
FRED series, with the value of each release and its change.
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