$BTC fell below $81,000 shortly after September CPI came in hotter than expected, at 3.7%
U.S. inflation data released last night came in above market expectations. $BTC plunged from around $83,500 to below $81,000 in just a few hours and is now trading around $80,900, down more than 3% in 24 hours.
Multiple sources confirmed the 3.7% CPI reading, and traders on Square are calling it the hottest CPI session in recent memory.
Interest rate futures markets are betting that the Fed will have to raise rates a few more times before year-end, but no one knows for sure what the Fed will decide at its next meeting.
Anyone holding a short-term long position without a stop-loss must have felt the full force of last night’s move.
What to watch today: can $BTC hold above $80,000, or will it fall further?
Personal observation, not investment advice
#USSeptemberCPIRisesTo3.7% #BTCFallsBelow$81K #CPIWatch
U.S. inflation data released last night came in above market expectations. $BTC plunged from around $83,500 to below $81,000 in just a few hours and is now trading around $80,900, down more than 3% in 24 hours.
Multiple sources confirmed the 3.7% CPI reading, and traders on Square are calling it the hottest CPI session in recent memory.
Interest rate futures markets are betting that the Fed will have to raise rates a few more times before year-end, but no one knows for sure what the Fed will decide at its next meeting.
Anyone holding a short-term long position without a stop-loss must have felt the full force of last night’s move.
What to watch today: can $BTC hold above $80,000, or will it fall further?
Personal observation, not investment advice
#USSeptemberCPIRisesTo3.7% #BTCFallsBelow$81K #CPIWatch