Bitcoin price dips below $82K as high oil prices spike US CPI inflation
Summary
Bitcoin fell below $82,000 after September US CPI rose 3.7% year over year, 0.1 percentage point above expectations. Core CPI also beat forecasts at 2.6%. Higher fuel costs drove much of the monthly increase. Markets sharply raised expectations of a Federal Reserve rate hike, while analysts differed on whether the Fed would act in October or wait until December. Gold fell, US bond yields climbed, and the 10-year yield reached 5.329%. Bitcoin had been trading around $82,500–$83,400 before the decline.
