After the U.S. Bureau of Labor Statistics (BLS) revealed that the consumer price index (CPI), a crucial inflation indicator, increased 0.4% from August to September
According to CoinMarketCap, the largest cryptocurrency by market capitalization was trading at US$18,432 at 10:30 p.m. Hong Kong time.
Following the publication of the CPI statistics, all of the top 10 cryptocurrencies, barring stablecoins, traded negatively.
The CPI increased 8.2% over the previous year, exceeding the projected 8.1% increase
suggesting that the Federal Reserve would probably continue raising interest rates until inflation falls below 2%.
Before the U.S. midterm elections next month, the most recent CPI report will be released.