According to the most common expectations, the September CPI numbers in the United States should have notched a year-over-year (YoY) increase of 3.6%.
The actual figures were indeed in that range, causing little-to-no price movements for Bitcoin (BTC) and the entire cryptocurrency market. More specifically, the latest CPI numbers indicated that inflation has slightly increased to 3.7%, which is still just above the general estimations.
- Participants in the traditional finance sector and the cryptocurrency industry shifted their focus today (October 12) to the Consumer Price Index data (as well as the Core CPI numbers) that showcases the inflation rate in the world’s largest economy.
- The former emerged at 3.7% for September (differing from the previous expectations by just 0.1%), whereas the latter (which excludes more volatile sectors such as food and energy) was at 4.1%, a slight decrease compared to the 4.3% recorded in August.
- Previous occasions of CPI data announcements have historically impacted the price of bitcoin (BTC) and affected the entire cryptocurrency market (to a certain extent). However, this has not been the case for the past few months.
- As of the moment, the primary cryptocurrency has not posted any substantial volatility and keeps trading at around $26,800, where it stood in the past few hours.
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Source: https://cryptopotato.com/bitcoin-remains-flat-despite-us-cpi-numbers-for-september-being-higher-than-estimated/