U.S. inflation for the month of September was up 8.2% year-over-year (YoY), which exceeded market expectations of 8.1%, per the consumer price index (CPI) report. Bitcoin fell close to $18,000 following the data release.

While the latest CPI report shows the fourth month of declining inflation, it is still notable that CPI continues to exceed market expectations. Thus, continued rate hikes could come from the Federal Reserve which tends to drive instruments like risk assets and bitcoin to lower prices.


By Antoni