Bitcoin Holds Near $77,000 as US Rate-Hike Bets Climb

Key Facts

Bitcoin (BTC) held near $77,000 on September 12, 2026, with EL7 data showing a $77,170 close inside a daily range of $77,059.75 to $77,505.67. That corrects the earlier account that inflation data simply drove the asset below $77,000.

The US Bureau of Labor Statistics said the Consumer Price Index rose 0.4% in August from the previous month and 3.4% from a year earlier. Core CPI, excluding food and energy, increased 0.3% monthly and 2.4% annually; the monthly reading exceeded the 0.2% consensus forecast.

The core-inflation surprise prompted a repricing in interest-rate expectations. Futures-market data reported by Reuters showed the implied probability of a 25-basis-point increase jumping to 91% immediately after the release before settling at 87%, up from 72% the previous day.

Bitcoin's post-release move was not one-way: an initial decline was followed by a recovery during the session, while intraday marks differed among data providers. Attributing the September 12 close solely to inflation therefore overstates the evidence, even though rate expectations remain important for crypto valuations.

The Federal Reserve had kept its target range at 3.50%–3.75% in July, while 3 officials preferred a 25-basis-point increase. Governor Christopher Waller also said before the August data that continued inflation improvement could support a hold, while renewed pressure could justify a hike at the September 15–16 meeting.

Attention now turns to the Federal Reserve decision and press conference on September 16. For Bitcoin, the September 12 range of $77,059.75 to $77,505.67 provides a short-term reference; a clear break would help show whether rate repricing is overwhelming underlying crypto demand.