Bitcoin Sinks After US CPI Report Shows Inflation Hotter Than Expected

According to Labor Department data released on Thursday, U.S. consumer prices in September decreased from the previous month

The inflation rate was still higher than expected by economists.

After the article, Bitcoin (BTC) fell by almost 3% to its lowest level since September 21. 

By market value, the biggest cryptocurrency was valued at about $18,400 at the time of publication. 

Since the Federal Reserve's efforts to cool off skyrocketing inflation have driven down prices for financial assets viewed as risky

The Consumer Price Index data, the most widely followed indicator of inflationary pressure in the United States, increased 8.2% in September compared to the same month a year earlier


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