📉 U.S. CPI HOTTER THAN EXPECTED, BITCOIN FALLS BELOW $74,000
📊 Inflation exceeds forecasts, Fed rate hike almost certain
U.S. CPI rose 0.4% month over month in October, above the 0.3% forecast, while core CPI rose 0.3%, compared with the expected 0.2%. The figures have made a Fed rate hike in December seem almost certain to the market, with the probability of a 50-basis-point hike reaching 15%.
💰 Bitcoin falls below $74,000 after the data
Bitcoin fell below $74,000 immediately after the figures were released and is currently trading around 73,200 USDT on Binance Futures, down 2.68% over 24 hours, with trading volume of around 11.18 billion USDT. The yield on 10-year U.S. Treasury bonds also climbed to nearly 4.93%.
🌤️ Hotter-than-expected inflation is making a Fed rate hike in December seem almost certain, and Bitcoin is the first asset to react. The market will await the Fed meeting minutes and the PPI to confirm the next direction.
$BTC
📊 Inflation exceeds forecasts, Fed rate hike almost certain
U.S. CPI rose 0.4% month over month in October, above the 0.3% forecast, while core CPI rose 0.3%, compared with the expected 0.2%. The figures have made a Fed rate hike in December seem almost certain to the market, with the probability of a 50-basis-point hike reaching 15%.
💰 Bitcoin falls below $74,000 after the data
Bitcoin fell below $74,000 immediately after the figures were released and is currently trading around 73,200 USDT on Binance Futures, down 2.68% over 24 hours, with trading volume of around 11.18 billion USDT. The yield on 10-year U.S. Treasury bonds also climbed to nearly 4.93%.
🌤️ Hotter-than-expected inflation is making a Fed rate hike in December seem almost certain, and Bitcoin is the first asset to react. The market will await the Fed meeting minutes and the PPI to confirm the next direction.
$BTC
