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

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As a seasoned crypto investor with a decade-long journey under my belt, I’ve learned to weather market storms and embrace the unpredictability that comes with this fascinating world. The latest US CPI data has sent ripples through the market, with inflation staying at 0.2% in September, higher than expected. This unexpected surge has me bracing myself for a potential dip below $60K for Bitcoin, a trend I’ve seen all too many times before.

As an analyst, I’ve just reviewed the recent US Consumer Price Index (CPI) figures, and it appears that inflation remained steady at 0.2% in September, surpassing the market’s expectations. This unexpectedly high rate of inflation has sparked concerns within financial markets, potentially driving Bitcoin‘s value down towards $60K in the near future. Furthermore, this development, following the disappointing US Job data, seems to strengthen the belief among investors that the Federal Reserve may adopt a more aggressive stance during their upcoming meeting.

US CPI Cools To 2.4% In September.

Based on the most recent statistics from the Department of Labor, the U.S. Consumer Price Index (CPI) remained steady at a monthly rate of 0.2% for the third consecutive month, matching both August and July figures. On an annual basis, inflation dipped to 2.4% in September, falling from the reported 2.5% last month but slightly surpassing the predicted 2.3%. Notably, this yearly increase in September represents the smallest growth since February 2021. Despite the unexpectedly high numbers, the annual rise in prices during September indicates a modest gain compared to earlier periods.

Concurrently, the Core Consumer Price Index increased by 0.3% in the previous month, remaining unchanged compared to the last month’s figure. Over a yearly basis, this index, which does not account for food and energy costs, climbed up to 3.3% from its 3.2% level in the preceding month.

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2024-10-10 15:57