Bitcoin Price Soars as US CPI Numbers Come in Lower Than Expected


BTC’s price had calmed around $111,000 before the news came out.

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The US Bureau of Labor Statistics finally released the Consumer Price Index numbers for September, which showed a year-over-year increase of 3%

The general expectations leading up to today’s announcement were that both the regular and the Core CPI had increased by 3.1% YoY.

Recall that this data was supposed to get out last week, but the US government’s shutdown delayed it, alongside numerous other activities.

Nevertheless, the actual numbers are slightly lower than what experts anticipated. Before the CPI for September came out, the general assumption was that inflation would continue to rise, especially for goods that are sensitive to tariffs.

With both regular and Core CPI beating the expectations, the US Federal Reserve should be more inclined to lower the interest rates next week. This is regarded as a bullish development for riskier assets like bitcoin, which is evident from its immediate reaction.

As the graph above demonstrates, the cryptocurrency surged instantly by a grand to $112,000 before retracing slightly in the following minutes.

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Source: https://cryptopotato.com/bitcoin-price-soars-as-us-cpi-numbers-come-in-lower-than-expected/