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Bitcoin Tumbles As US CPI Hits 8.2% – Bitcoin Magazine



US inflation in September increased by 8.2% year-on-year (YoY), exceeding market expectations of 8.1%, according to Consumer price index (CPI) report. Bitcoin fell near $18,000 after the release of the data.

While the latest CPI report showed a decrease in inflation for the fourth month, it is still worth noting that CPI continued to exceed market expectations. As a result, continued interest rate hikes could come from the Federal Reserve which tends to drive instruments like risk assets and bitcoin down.

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