Bitcoin dips below $82,000 as hot US CPI inflation lifts bond yields
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Bitcoin fell below $82,000 after Wednesday's Wall Street open after September US CPI inflation came in at 3.7% year-on-year, 0.1 percentage point above market consensus. Gasoline prices rose 9.1% in September, accounting for over half of the monthly increase, driven by fuel costs linked to the Middle East conflict, while core CPI hit 2.6%, also 0.1 point above expectations. Bond yields targeted 24-year highs and crypto, gold and stock futures all fell as markets adjusted Federal Reserve rate expectations.
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