US CPI Tops Forecasts in October as Bitcoin and Ether Fall
Headline and core Consumer Price Index readings came in above forecasts in October, accompanied by a dip in major crypto assets including ether.
Update (Nov 10, 14:12 UTC): According to Bitbo, Bitcoin subsequently dropped to $73,600 as the October Consumer Price Index figures reinforced bets on Federal Reserve interest rate hikes.
According to TheDefiant, United States Consumer Price Index data for October topped market forecasts, leaving both headline and core figures above expectations. A data gap left the release without annual readings for the period.
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Following the economic data release, cryptocurrency markets faced downward pressure. Bitcoin and ether both fell, with ether slipping 1.9% around the time of the publication.
Key facts
- US CPI data for October topped forecasts
- Headline and core CPI lacked annual readings due to a data gap
- Ether slipped 1.9% around the release
- Bitcoin also declined following the data publication
Source: thedefiant.io
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