Bitcoin, ETH, XRP Drop 1% Following Hot CPI Inflation Print
Bitcoin fell below $82,000 as hotter than expected US consumer price inflation data pushed bond yields toward new highs.
Update (Oct 14, 15:40 UTC): According to Benzinga, a subsequent hot consumer price index inflation print has triggered further declines across major digital assets, extending losses following earlier inflation figures.
Bitcoin price action showed weakness after hotter than expected US Consumer Price Index data sent bond yields surging higher, according to Cointelegraph. The benchmark cryptocurrency dropped below $82,000.
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Yields Target 24-Year Highs
Bond yields targeted new 24-year highs following the inflation report, driven by high oil prices that spiked US CPI inflation.
Key facts
- Bitcoin Price: Fell below $82,000.
- Driver: Hotter than expected US CPI inflation data.
- Market Impact: Bond yields targeted new 24-year highs.
Source: cointelegraph.com
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