Bitcoin Price (BTC) Advances on Soft Inflation Data
CoinDesk
U.S. September CPI rose less than expected, boosting Bitcoin and strengthening expectations for Fed rate cuts.Summary
The U.S. Consumer Price Index (CPI) for September rose by 0.3% month-over-month, softer than the expected 0.4%, and year-over-year it increased by 3.0% against forecasts of 3.1%. Core CPI also came in lower than anticipated, climbing 0.2% monthly. Following the release of this better-than-hoped inflation data, Bitcoin (BTC) advanced to trade around $111,600, and U.S. stock index futures also gained. The softer inflation data reinforces market anticipation that the Federal Reserve is on track to implement a 25 basis point rate cut at its next meeting, with a high probability also priced in for a similar cut in December.
(Source：CoinDesk)