#cpi
🔴 *BREAKING: $434M Outflows from Crypto Funds After Hot US Inflation Data*
Crypto market is under pressure again. $434 million went out from crypto investment products this week.
Why?
1. US inflation was HOT - CPI came at 3.7% but expected was 3.6%. Gasoline prices jumped 9.1% in September.
2. Retail sales also strong - 0.8% growth vs 0.3% expected. It means people still spending.
3. Because of this, Fed may keep interest rates HIGH for longer. When rates are high, risky assets like Bitcoin become less attractive.
*What happened to price?*
Bitcoin fell below $82,000 after the news. Trading around $81,500 now.
What next?
Poly market shows 75% chance Fed will NOT hike in October, but 25% chance of a hike.
Market is now waiting for GDP data and PCE inflation data on Oct 29. market will stay in a range, not a clear trend, until new data comes.
#cpi
#NEARRisesNearly10%
#SolanaAlpenglowUpgradeToActivateOnOct21
🔴 *BREAKING: $434M Outflows from Crypto Funds After Hot US Inflation Data*
Crypto market is under pressure again. $434 million went out from crypto investment products this week.
Why?
1. US inflation was HOT - CPI came at 3.7% but expected was 3.6%. Gasoline prices jumped 9.1% in September.
2. Retail sales also strong - 0.8% growth vs 0.3% expected. It means people still spending.
3. Because of this, Fed may keep interest rates HIGH for longer. When rates are high, risky assets like Bitcoin become less attractive.
*What happened to price?*
Bitcoin fell below $82,000 after the news. Trading around $81,500 now.
What next?
Poly market shows 75% chance Fed will NOT hike in October, but 25% chance of a hike.
Market is now waiting for GDP data and PCE inflation data on Oct 29. market will stay in a range, not a clear trend, until new data comes.
#cpi
#NEARRisesNearly10%
#SolanaAlpenglowUpgradeToActivateOnOct21