Both the core and the regular Consumer Price Indexes beat the expectations in the States for the month of October, even with the slightest margin.
The announcement sent BTC higher, with the asset gaining over $400 in minutes before and after the numbers came out.
The general expectations for the year-over-year October CPI numbers showed a potential 3.3% increase compared to the same month last year. For the core CPI, which excludes more volatile sectors like food and energy, the figure stood at 4.1%.
In reality, both metrics have increased with more modest percentages. The core CPI is up by 3.2% YoY, while the Core CPI has jumped by 4% compared to October 2022.
Since the CPI shows the general increase of the inflation rates in the States and the potential upcoming strategies to be undertaken by the country’s central bank, the news had a somewhat positive impact on BTC’s price.
The cryptocurrency sat at a multi-day low of $36,200 but spiked by over $400 in the minutes before and after the numbers were announced. As of now, BTC stands above $36,600.
The post BTC Pumps Toward $37K as US CPI Numbers for October Beat Expectations appeared first on CryptoPotato.
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]