Bitcoin Drops Below $82,000 as Hot U.S. Inflation Revives Rate Bets

Bitcoin fell below $82,000 after hotter September U.S. inflation revived expectations for further rate hikes, adding pressure to crypto markets as price increases spread beyond gasoline. Consumer prices rose 3.7% from a year earlier, while core CPI increased 2.6%. Gasoline prices jumped 9.1% during the month and accounted for more than half of the overall increase. Housing, medical care and airline services also became more expensive. Huobi HTX chief analyst Andy said the broader price gains make it harder to treat September’s rebound as an energy-only shock. Treasury yields and the U.S.

Also reported by TheStreet Crypto.

Source: TokenPost