US inflation data goes dark: Shutdown wipes out October CPI, leaving Bitcoin hanging

The US government shutdown resulted in the cancellation of the October Consumer Price Index (CPI) report, a crucial piece of macroeconomic data that crypto traders typically use to time market movements. Because the shutdown covered the entire data collection period, the Bureau of Labor Statistics (BLS) indicated the October data may never be reconstructed, creating a permanent gap in the inflation record. This absence removed the expected volatility event for Bitcoin and Ethereum, though the market still saw a drop amid thin liquidity, suggesting traders were reacting to the uncertainty. Normally, softer inflation data leads to expectations of a less restrictive Fed, boosting risk assets like Bitcoin, while hotter data tightens policy expectations. Without the CPI, traders are relying more on speeches, market-based swaps, and secondary indicators. The next scheduled date is December 10, but the outcome is uncertain: the BLS might release a reconstructed, lower-quality number; a number around 0.3-0.4% could lead to flat trading; or a hot reading could cause a sharp sell-off. If the October data is entirely missing on December 10, crypto will enter a new macro regime where it trades more on slower forces like ETF flows and structural demand, potentially reinforcing Bitcoin's benchmark status amid high uncertainty.

(Source：CryptoSlate)