CPI Data Release Impacts Dollar Index and Bitcoin Prices

According to BlockBeats, market data on September 11 indicated that the release of the Consumer Price Index (CPI) data led to a short-term increase of over 20 points in the U.S. Dollar Index (DXY), which is now reported at 101.67. Concurrently, Bitcoin experienced a brief decline of approximately 0.7%, currently trading at $56,558. In addition, the futures of the three major U.S. stock indices saw a short-term drop. The Dow Jones Industrial Average futures are currently down by 0.66%, while the S&P 500 and Nasdaq futures have decreased by 0.45%. Following the CPI data release, traders have reduced their bets on a Federal Reserve interest rate cut. Currently, traders anticipate that the Federal Reserve will cut interest rates by 25 basis points next week, with a total reduction of 100 basis points expected for the year.