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Breaking: Worse Than Expected CPI Results In Crypto Slide

Breaking: Worse Than Expected CPI Results In Crypto Slide thumbnail

The Consumer Price Index for September is worse-than-expected. Consumer prices increased by 0.4% on a month-on-month basis while the CPI increased by 8.2% on a YoY basis instead of the expected 8.1%. The core CPI also came out hotter than expected. Core CPI highlighted an increase of 0.6% instead of the expected 0.4%. On a YoY basis, the core CPI increased by 6.6% instead of the 6.5% that was predicted. The worse-than-expected CPI resulted in an immediate selloff in the crypto market.

Bitcoin fell close to 2% in a matter of a few minutes. It is currently trading at $18405. On the other hand, Ethereum is dangerously close to falling below the $1,2K mark. ETH fell by 2.33% in a few minutes and is

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