US CPI came in at 3.7% for September, above the 3.6% forecast. Core rose to 2.6% from 2.4%, and gasoline alone was up 9.1% on the month, per the BLS.
Bitcoin and gold took the same first hit. In the 15 minutes after the 20:30 UTC+8 print, BTC fell 1.2% on Binance and gold-backed PAXG fell 1.2%.
Then they split. Gold drifted to about -1.5% and held near there. Bitcoin kept sliding, from $83,860 at the print to about $81,650 three and a half hours later, down 2.6%. ETH did worse, -3.5%, from $2,518 to $2,430.
Bonds read it the same way. CoinDesk reported the 2-year Treasury yield up 13.1 basis points after the release, and the Fed meets on Oct 27 and 28.
Gold took one hit. Bitcoin is still taking it.
$BTC $ETH $PAXG
#CPI #Bitcoin
NFA. DYOR.
Bitcoin and gold took the same first hit. In the 15 minutes after the 20:30 UTC+8 print, BTC fell 1.2% on Binance and gold-backed PAXG fell 1.2%.
Then they split. Gold drifted to about -1.5% and held near there. Bitcoin kept sliding, from $83,860 at the print to about $81,650 three and a half hours later, down 2.6%. ETH did worse, -3.5%, from $2,518 to $2,430.
Bonds read it the same way. CoinDesk reported the 2-year Treasury yield up 13.1 basis points after the release, and the Fed meets on Oct 27 and 28.
Gold took one hit. Bitcoin is still taking it.
$BTC $ETH $PAXG
#CPI #Bitcoin
NFA. DYOR.