Bitcoin Slips as Inflation Data Revives Fed Rate Hike Concerns
September inflation exceeded forecasts at 3.7%, pushing Treasury yields higher as Bitcoin and stocks declined.
Bitcoin fell after September’s Consumer Price Index reading came in at 3.7%, exceeding forecasts and adding pressure to crypto markets.
The inflation figures renewed concerns that the Federal Reserve could raise interest rates again. Treasury yields moved higher following the release.
Stocks also declined, with the crypto downturn coinciding with broader market weakness as investors weighed the inflation data and interest-rate outlook.
Source: Decrypt
