Live updates: Bitcoin sinks to $77,000 as CPI lands with hike odds near 70%

Bitcoin has dropped to $77,000 following the release of the August CPI report. Market data indicates that Fed rate hike odds have climbed to approximately 70%. These rising odds are expected to strain interest-sensitive sectors by increasing borrowing costs and impacting future earnings. Consequently, these macroeconomic factors are currently influencing broader market dynamics and contributing to the downward price movement of Bitcoin as investors react to the latest inflation data and potential monetary policy shifts.