Banking Giant Rolls Out Bitcoin and Ether Desks After XRP Pivot: Top Crypto News This Morning

The cryptocurrency market is emerging from the consolidation phase right now following the release of critically important macroeconomic data from the US. The September Consumer Price Index (CPI) showed accelerating inflation across all components: the annual figure rose to +3.7% (+3.6% expected), while the underlying Core CPI climbed to +2.6% y/y, provoking a harsh reaction in financial markets. The release of "hot" data triggered an instant jump in US Treasury yields, a +2.55% rise in the VIX volatility index, and a -1.10% drop in gold.