US CPI Comes In Hotter Than Expected, Bitcoin to Slip Below $60K?

Quick Summary:

The latest US Consumer Price Index (CPI) data showed that the inflation stayed at 0.2% in September, up from what the market was expecting.

Notably, the higher-than-anticipated inflation level has fueled market concerns, which is likely to send Bitcoin price below $60K soon.

However, despite the hotter-than-anticipated figures, the yearly surge in September marks the smallest gain since February 2021.

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Article Details

Author / Journalist: Rupam Roy

Category: Crypto

Markets: India

Topics: US CPI 24/7 Cryptocurrency News Bitcoin (BTC) Price Inflation data Fed rate cut

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-10 @ 12:49:52 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 202 words

Reading Time: 2 minutes read

Sentences: 38 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22979505

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News Last Updated: 8 hours ago

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