CoinMeta data: According to U.Today, the price of Bitcoin suddenly broke through $85,000, with a gain of 1.8%. In the past hour, approximately $50 million worth of Bitcoin positions were liquidated, with short positions accounting for the majority, at around $48 million. This rebound was mainly driven by an unexpectedly mild inflation report, as the Personal Consumption Expenditures (PCE) index in August increased by 3.4% year-on-year, lower than analysts' expected 3.7%. The Federal Reserve's expectations for interest rate hikes were affected by this report, and the market's urgency for further rate increases diminished, which is beneficial for Bitcoin and other risk assets.