Bitcoin remains flat despite US CPI numbers for September coming in higher than expected
According to the most common expectations, the September CPI numbers in the United States should have achieved a year-on-year (yoy) increase of 3.6 percent.
The actual figures were actually in that range, resulting in minimal price movements for Bitcoin (BTC) and the entire cryptocurrency market. Notably, the latest CPI numbers indicate that inflation has increased slightly to 3.7%, which is still above consensus estimates.
Participants in the traditional financial sector and the cryptocurrency industry will turn their attention today (October 12) to the Consumer Price Index (as well as core CPI numbers), which will reveal the rate of inflation in the world's largest economy. The former emerged at 3.7% in September (differing from the previous expectation by only 0.1%), the latter (which excludes more volatile sectors such as food and energy) at 4.1%, down slightly from the 4.3% recorded. August. Previous CPI data announcements have historically influenced the price of bitcoin (BTC) and affect the entire cryptocurrency market (to some extent). But this has not been the case for the past few months. So far, the major cryptocurrency has not posted any significant volatility and continues to trade around $26,800, which it has been in for the past few hours.
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