Tonight’s CPI came in hotter than expected
I previously thought CPI might come in below expectations, but the actual data was hotter. September CPI rose 3.7% year over year, while core CPI rose 2.6%; both were above market expectations.
$BTC briefly fell below $83,000, and gold also dropped to around $4,100. Market expectations for an October rate hike have risen noticeably.
Still, I’m in no rush to turn bearish for now. BTC already went through a decline a few days ago, and what I’d rather see now is whether it can climb back above $84,000.
If it continues to break below $82,000, I’ll need to reassess the short-term risks.
I previously thought CPI might come in below expectations, but the actual data was hotter. September CPI rose 3.7% year over year, while core CPI rose 2.6%; both were above market expectations.
$BTC briefly fell below $83,000, and gold also dropped to around $4,100. Market expectations for an October rate hike have risen noticeably.
Still, I’m in no rush to turn bearish for now. BTC already went through a decline a few days ago, and what I’d rather see now is whether it can climb back above $84,000.
If it continues to break below $82,000, I’ll need to reassess the short-term risks.