The US Consumer Price Index (CPI) for September came in at 8.6%, surpassing market expectations of 8.1%. The higher-than-expected inflation rate has reignited concerns about the Federal Reserve's monetary policy, potentially leading to more aggressive interest rate hikes.
Source
"US Inflation Data Sinks Bitcoin" — CoinDesk
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
Bitcoin prices plummeted in response to the news, as the cryptocurrency traded down 3.5% to around $18,800 at one point.
BTC · 7D · $81,828−2.1%