Bitcoin Soars to 2-Week High of $114K as Traders Brace for US CPI Data Release

Bitcoin just smashed through resistance levels, hitting a fresh two-week peak at $114,000. All eyes turn to tomorrow's US Consumer Price Index data—the Fed's favorite inflation gauge that could make or break this rally.

Market Momentum Builds

Traders are positioning aggressively ahead of the CPI print. The crypto market's pumping on pure anticipation—because nothing gets digital assets moving like old-school economic indicators. Classic finance irony: decentralized assets hanging on centralized data points.

Technical Breakout Confirmed

BTC's surge past $114k signals strong bullish momentum. The move comes amid heightened institutional interest and suggests traders are betting on inflation data that might justify continued monetary easing. Because apparently, we still need macroeconomic validation for the future of money.

CPI: The Ultimate Catalyst

Tomorrow's numbers could trigger massive volatility. A lower-than-expected reading might send Bitcoin screaming toward new highs—while hotter inflation could spark the usual 'risk-off' tantrum. Because in crypto, we've replaced 'traditional banking' with 'traditional market reactions'.

BTC Rises Before US CPI Data

The primary cryptocurrency tried to take down the crucial $113,000 support on a couple of occasions in the past week, but each attempt was met with an immediate rejection. The subsequent decline drove it south by a few grand, as it happened on September 6 and September 10.

The bulls initiated another leg up in the past 24 hours that also saw BTC challenge that level. This time, though, the asset was a lot more successful as it finally breached that level. Moreover, it kept climbing and tapped a 17-day peak of $114,500 earlier this morning.

Although it has retraced slightly since then, it still trades around $114,000. More volatility is expected later today when the US CPI numbers are set to be announced. The past few such occasions led to immediate price declines before Bitcoin managed to recover the lost ground.

For now, though, BTC’s market cap has risen to $2.270 trillion, while its dominance over the alts has calmed at 56% on CG.

MNT New ATH

Mantle’s native token is today’s top performer, having surged by double-digits to mark a new all-time high at $1.65. AVAX is next in line from the larger caps, as a 7% increase has pushed the asset to almost $30.

DOGE, XLM, LTC, and TAO are also well in the green. ethereum has risen past $4,400 after a 2.3% jump over the past 24 hours. In contrast, WLD has dropped by almost 8% after the recent rally that drove it north to well over $2.

The total crypto market cap has reclaimed the $4 trillion mark and has grown to $4.060 trillion on CG.