According to the most popular forecast, September CPI numbers in the US were supposed to increase by 3.6% year-on-year.
The actual numbers were already in this range, causing little to no movement in Bitcoin (BTC) prices and the entire cryptocurrency market. More specifically, the latest CPI numbers indicated that inflation rose slightly to 3.7%, which is still slightly above general estimates.
- Participants in the traditional finance and cryptocurrency industry turned their focus today (October 12) to CPI data (as well as core CPI numbers) showing the inflation rate in the world’s largest economy.
- The first appeared at 3.7% for September (differing from the previous forecast by only 0.1%), while the second (which excludes more volatile sectors such as food and energy) reached 4.1%, a slight decrease compared to the 4.3% recorded in September. August.
- Previous occasions of CPI data announcements have historically impacted the price of Bitcoin (BTC) and affected the entire cryptocurrency market (to some extent). However, this has not been the case over the past few months.
- As of right now, the underlying cryptocurrency has not registered any major fluctuations and continues to trade at around $26,800, where it has been standing for the past few hours.
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