Bitcoin nears 11-week low after ‘discouraging’ US CPI inflation beat
Summary
Bitcoin dropped close to an eleven-week low following higher-than-expected US inflation figures for October. Consequently, US equities also declined as market participants anticipated a quarter-point interest rate increase by the Federal Reserve in December.
Bitcoin and US stocks initially fall after October inflation tops forecasts, with traders expecting a quarter-point Fed rate hike in December.
Source: Read the full story at Cointelegraph.com News
Disclaimer: This content is for informational and educational purposes only and is not financial, investment or trading advice. Tech & Money Press is not a registered investment adviser or broker-dealer. Trading stocks, options and crypto involves substantial risk, including the loss of your entire investment. Do your own research and consult a licensed professional before making any financial decision. The authors may hold positions in the securities mentioned. News summaries are written with AI assistance from the original publisher's report and may contain errors; always check the original source. Full disclaimer.