After the CPI "dust settles" moment, global markets have rallied strongly: Bitcoin rebounded from a low to hit $78,000, and US stock index futures maintained their upward momentum.

Although U.S. August CPI rose at a faster pace, lifting rate hike expectations, with a roughly 90% probability of a Federal Reserve rate hike priced in for next week, and markets fully anticipating two additional Fed hikes by year-end, global markets still performed strongly after the widely expected move. In the crypto space, per HTX market data, Bitcoin briefly plunged to $76,046 in a short-term flash dip, and has since rebounded to $78,000. Ethereum broke above $2,500. In U.S. equities, per BIT (bit.com) market data, pre-market Dow Jones futures rose 0.8%, Nasdaq futures gained 0.82%, and S&P 500 futures advanced 0.73%. Per Bitget market data, spot gold has rebounded more than $70 from its post-CPI low, breaking above $4,360 per ounce, after earlier touching a low of around $4,290 per ounce.