Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

U.S. CPI Inflation Data Released: Inflation Drops to 2.4%, Bitcoin Reacts with Minor Dip

Share This Post

US CPI Announcement Today:

The post U.S. CPI Inflation Data Released: Inflation Drops to 2.4%, Bitcoin Reacts with Minor Dip appeared first on Coinpedia Fintech News

The U.S. Bureau of Labor Statistics recently announced a significant decrease in the Consumer Price Index (CPI) for September, with the inflation rate falling to 2.4%,  slightly higher than the expected 2.3%. This decline in inflation signals a positive change in the financial sector, showing that inflation is finally easing. Following this news, Bitcoin’s price dropped below $61,000. 

CPI Drop To 2.3%: Cooling Inflation

September’s CPI inflation rate fell by 0.1% to 2.4% which was earlier forecasted to drop by 0.2%. Although the current CPI report is down from 2.5% in August and 2.9% in July. This consistent decrease in inflation over the past year marks the sixth consecutive month of falling inflation rates, indicating a steady cooling trend. 

Meanwhile, Experts believe this ongoing decrease could lead to a possible interest rate cut in October, which would provide relief to both consumers and investors alike.

Understanding Core CPI Insights

Core CPI, which excludes fluctuating items like food and energy, saw a slight rise to 3.3%, which was expected to remain unchanged at 3.2%. Meanwhile, both the overall CPI and core CPI indicate that efforts to control inflation are beginning to show positive results. 

If this trend continues, it could lead to a more stable economic outlook, raising hopes for sustained improvement.

Bitcoin Price Surge

In response to the CPI data release, Bitcoin’s price saw a slight drop of 1.92%, reaching $60,740 and dropping its market cap to $1.20 trillion. The cryptocurrency appears to be losing momentum, and many analysts suggest it could potentially hit the $60,000 resistance level before beginning its bull run. 

However, the current price movement indicates that investors are optimistic, choosing to hold their positions rather than taking profits. If inflation continues to ease, Bitcoin and other cryptocurrencies could experience stronger upward trends soon.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

US Treasury Targets Houthi Crypto Wallets, Financial Network

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has identified eight digital asset wallets used by the Houthis to transfer funds associated with their activities OFAC

Bitcoin’s Safe, Saylor Says, While Trump Waves The Tariff Sword

Michael Saylor, Executive Chairman of Strategy, pointed out that Bitcoin won’t face tariffs under US President Donald Trump’s new import tax plan Saylor shared this view on X, telling his

Dogecoin Open Interest Suffers Further Crash, Will DOGE Price Continue To Go Down?

Dogecoin’s open interest continues to decline, sparking a bearish outlook for the foremost meme coin Based on historical data, the DOGE price is at risk of suffering a further crash thanks to the

Russia Addresses US Tariff Threats as BRICS Ramps up Dollar Escape Plan

Russia called US threats over BRICS currency moves serious but stressed the bloc isn’t replacing the dollar—only modernizing finance to counter monopolistic global abuses Russia Responds to US

Bitcoin Short-Term Holders Halt Buying Activity – What Does This Mean For BTC?

A few days ago, Bitcoin witnessed a brief upward move close to the $88,000 mark due to the renewed bullish momentum across the general crypto market However, BTC seems to have lost its steam as its

Is The Solana Bottom In? Experts Answer

In a new technical analysis shared via X, crypto analyst Scott Melker aka The Wolf Of All Streets (@scottmelker) highlighted a critical support-resistance setup for Solana (SOL), emphasizing what he