Bitcoin Drops as U.S. September CPI Runs Hot
Bitcoin fell sharply after a hot U.S. September inflation report raised the prospect of further Federal Reserve rate increases.
Bitcoin moved sharply lower following a stronger-than-expected U.S. consumer price inflation reading for September, according to CoinDesk.
The inflation data could bring the possibility of multiple additional Federal Reserve interest-rate increases back into focus.
The report raises questions about the central bank’s next steps, but does not establish whether further hikes will follow.
Source: CoinDesk
