CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Bitcoin Price Trades Down Near $73,500 After Hot CPI Print Lifts Fed Hike Bets

Bitcoin Magazine logo

Published on

Add as a preferred source on Google
Bitcoin Price Trades Down Near $73,500 After Hot CPI Print Lifts Fed Hike Bets

Bitcoin Magazine

Bitcoin Price Trades Down Near $73,500 After Hot CPI Print Lifts Fed Hike Bets

Bitcoin price traded near $73,500 on Tuesday morning, down about 1% over the past day and roughly $32,000 below its price one year ago, after a hotter-than-expected inflation report revived fears of a larger Federal Reserve rate hike, according to Bitcoin Magazine Pro data.

The U.S. consumer price index rose 0.4% in October, above the 0.3% economists expected. Core CPI, which strips out food and energy, climbed 0.3% against forecasts for 0.2%.

Bitcoin price had been holding near $74,300 in the minutes before the 8:30 a.m. ET release. It dropped to about $73,400 right after the print, briefly undercutting Monday’s overnight low of $73,477, before steadying in the high-$73,000s.

JUST IN: U.S. CPI inflation comes in at 0.4% MoM, higher than expectations đź‘€

Bitcoin falls below $74,000 on the news. pic.twitter.com/Zxq3LtVwAd

Food prices jumped 0.5% on the month, energy rose 0.7% and gasoline gained 1.0%. Housing costs increased 0.3%.

The report will not carry an annual inflation rate. The government shutdown in October 2025 kept the Bureau of Labor Statistics from collecting a full set of prices, so there is no comparable figure. Bank of America estimated before the release that the annual rates were running near 3.8% for headline and 2.7% for core.

Bond traders moved first. Two- to five-year Treasury yields rose at least 10 basis points on the day after the print, and traders boosted bets on a half-point hike when the Fed meets on Dec.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.