Bitcoin (BTC) price edged higher on Sept. 10, tracking gains in global stock markets as traders prepared for crucial US inflation data and the much-anticipated debate between Vice President Kamala Harris and former President Donald Trump.

BTC's price jumped by over 9% to reach around $57,375 on Sept. 10, compared to its local low of around $52,570 four days ago. The upside moves appear typical of the gains that occur prior to the US Consumer Price Index (CPI) data release.

According to Bloomberg, the Bureau of Labor Statistics will likely report a 2.6% increase in US inflation in August from a year earlier, which would be the lowest inflation rate in more than three years, raising anticipations that the Fed would at least cut rates by a quarter-point at the end of its Sept 18-19 meeting.

The upside momentum in Bitcoin's price is seen as a result of the "liquidity push towards the $56,000 resistance", as explained by Michael van de Poppe, CIO/founder of crypto venture capital firm MN Capital.

Source: https://cointelegraph.com/news/why-is-bitcoin-price-up-today

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