U.S. September CPI comes in hot, sending bitcoin sharply lower
Summary
Consumer price data from the United States came in higher than anticipated for September. This inflationary surprise caused the price of bitcoin to drop significantly. Additionally, the development raises the possibility that the Federal Reserve might implement more interest rate increases.
The news could put multiple rate hikes by the Federal Reserve back into play.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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.