Bitcoin Price Dips Below $82K as US CPI Sends Bonds Toward New Highs
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DOGE | $0.08004 | 5.52% TRX | $0.3311 | 0.10% LINK | $12.10 | 6.23% ZEC | $1,102.75 | 11.72% ADA | $0.2213 | 6.02% XRP | $1.30 | 4.56% ETH | $2,363.72 | 5.66% BTC | $81,101.94 | 2.92% XMR | $539.23 | 2.64% BNB | $718.92 | 3.38% XLM | $0.1788 | 5.75% SOL | $102.44 | 4.55% HYPE | $80.08 | 2.17%
Written by:
- William Suberg, staff writer
- Edited by: Robert Lakin, staff editor
Bitcoin (BTC) fell below $82,000 following Wednesday’s Wall Street open as US consumer inflation beat expectations.
Key Points:
- Bitcoin dropped to $81,926 on Bitstamp after US September CPI inflation came in at 3.7% versus expectations of 3.6%.
- Fuel-price increases accounted for most of the rise, at 9.1% year-on-year.
- US bond yields spiked, while gold fell to $4,079 per ounce.
Market Reaction:
Data from TradingView showed crypto, gold, and stock-market futures declining after the Consumer Price Index (CPI) for September was released.
- BTC/USD one-hour chart: [Link or image, if available]
- US CPI 12-month % change: [Link or image, if available]
Analysts' Views:
- Sonu Varghese, chief macro strategist at Carson Group, noted that elevated inflation figures were expected.
- "The only surprise is that investors keep getting surprised by broad-based inflation... we’ve yet to see the full impact of higher diesel prices and the AI boom," he said.
Federal Reserve Outlook:
The latest data from CME Group’s FedWatch Tool showed markets adjusting expectations for Federal Reserve policy. The majority now favor a 25-basis-point interest-rate hike at the upcoming meeting on October 28, with odds at 53.7%. A second 25-basis-point hike is expected for December.
Upcoming Data:
The next key US inflation data release, the September print of the Producer Price Index (PPI), is due on Friday.