Inflation Jumps to 3.7% Before Fed Meeting
Bitcoin declined sharply following the release of the September Consumer Price Index report, according to Moomoo.
Update (Oct 14, 14:55 UTC): September's consumer price index rose to 3.7%, bringing an October rate hike back into consideration just 13 days ahead of the Federal Reserve meeting.
Bitcoin experienced a downward movement following the release of the September Consumer Price Index (CPI) report, according to data published by Moomoo. The digital asset dropped as macroeconomic figures triggered broader market reactions.
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Market Reaction
The CPI report serves as a key indicator for macroeconomic conditions and central bank policy expectations. Digital asset markets reacted promptly to the inflation data release.
Key facts
- Bitcoin experienced a price decline following the September CPI report
- The market update was published by Moomoo
Source: news.google.com
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