🚨 U.S. inflation surprises markets
📊 Annual inflation (CPI) rose to 3.7%, versus expectations of 3.6%, while core inflation climbed to 2.6%, compared with the forecast of 2.5%.
These figures could bring rate-hike concerns back to the forefront, especially as the odds of a hike in October rose to 30% after the data was released.
For crypto, this is unwelcome news. Higher interest rates usually put pressure on riskier assets and could increase volatility in $BTC and altcoins.
Now we’re watching the market’s reaction at the open, but most likely we’ll see a downward correction, which could be a good buying opportunity.
#CPIWatch
#FedRateWatch
#FedRateDecisions
#CryptoNews
📊 Annual inflation (CPI) rose to 3.7%, versus expectations of 3.6%, while core inflation climbed to 2.6%, compared with the forecast of 2.5%.
These figures could bring rate-hike concerns back to the forefront, especially as the odds of a hike in October rose to 30% after the data was released.
For crypto, this is unwelcome news. Higher interest rates usually put pressure on riskier assets and could increase volatility in $BTC and altcoins.
Now we’re watching the market’s reaction at the open, but most likely we’ll see a downward correction, which could be a good buying opportunity.
#CPIWatch
#FedRateWatch
#FedRateDecisions
#CryptoNews