U.S. September CPI comes in hot, sending bitcoin sharply lower
The news could put multiple rate hikes by the Federal Reserve back into play.
Source: CoinDesk
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DW NOTE
The Strait of Hormuz has been effectively closed for three days, crude is up 8.76% in a week, and the Fed is pricing in another hike — yet the story leads with a 0.1% CPI variance as if it arrived from nowhere. Inflation isn't hot because September printed 0.6%; it's hot because energy is repricing under a supply shock and the central bank spent two years flooding the system with liquidity it still hasn't drained.