🔥 US October CPI runs hot at 0.4%, bitcoin slips to $73,600
The US Consumer Price Index rose 0.4% in October, down from 0.6% in September but above forecasts for 0.3%. Core CPI, which excludes food and energy, rose 0.3% versus expectations of 0.2%.
Bitcoin extended earlier losses, dipping about 1% to $73,600, while Nasdaq 100 futures fell 1.15%. The 2-year Treasury yield jumped 14 basis points to 4.69% and the 10-year rose to 4.93%, after Fed Governor Chris Waller said a 50-basis-point move could be considered if CPI came in strong.
⭐ A hotter print makes a December Fed rate hike look all but certain, keeping pressure on risk assets like crypto.
#Bitcoin #CPI #Fed #Macro #Crypto
The US Consumer Price Index rose 0.4% in October, down from 0.6% in September but above forecasts for 0.3%. Core CPI, which excludes food and energy, rose 0.3% versus expectations of 0.2%.
Bitcoin extended earlier losses, dipping about 1% to $73,600, while Nasdaq 100 futures fell 1.15%. The 2-year Treasury yield jumped 14 basis points to 4.69% and the 10-year rose to 4.93%, after Fed Governor Chris Waller said a 50-basis-point move could be considered if CPI came in strong.
⭐ A hotter print makes a December Fed rate hike look all but certain, keeping pressure on risk assets like crypto.
#Bitcoin #CPI #Fed #Macro #Crypto
