Bitcoin gets no relief from U.S. CPI, with no BTC price recovery from recent lows in sight.
CPI joins macro data coming in higher than predicted, something not conducive to BTC price upside, Bitcoin analysts continue to imply.) was clinging to the key $26,800 mark prior to the Oct. 12 Wall Street open as United States inflation data continued to beat expectations.On Oct. 12, the September print of the Consumer Price Index bolstered the trend, coming in at 3.7% year-on-year versus 3.6% expected. Less food and energy, the tally was 4.1% — matching forecasts.
“The all items less food and energy index rose 4.1 percent over the last 12 months. The energy index decreased 0.5 percent for the 12 months ending September, and the food index increased 3.7 percent over the last year.” Following CPI, the odds of the Fed hiking rates further at the next meeting of the Federal Open Market Committee on Nov. 1 were nonethelessAnalyst on Bitcoin vs. macro: “Bad=bad”
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