As US Inflation Pressures Bitcoin, What Will the Fed’s Next Move Be? Analysts Evaluate Today’s CPI Data!

The US Consumer Price Index (CPI) data for September, released today, indicated a higher-than-expected inflation outlook for Bitcoin, the cryptocurrency market, and the Federal Reserve's (FED) interest rate policy. The rise in annual CPI to 3.7%, exceeding market expectations, and core inflation also higher than anticipated, have strengthened concerns that the Fed may be cautious about cutting interest rates and may even consider raising them again. Following the release of the data, Bitcoin fell below $83,000. The market's focus is now on the Fed meeting to be held on October 27-28.