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Bitcoin falls below $81,000 following US inflation data release

Barrons.com +1 ·

XLP
XLP State Street Consumer Staples Select Sector SPDR ETF
$86.06 +2.22%
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  1. 1US consumer prices rose 3.7% over the 12 months through September, reigniting concerns over Federal Reserve interest rate hikes.
  2. 2Market expectations for an October rate hike were adjusted to between approximately 26% and 30%.
  3. 3Institutional demand weakened as US spot Bitcoin ETFs recorded $150,500,000 in outflows on October 14.

So what's the key point?

Rising US prices have created concerns that interest rates might be increased further. Interest from institutions has also decreased as money has flowed out of Bitcoin investments.

Source Barrons.com +1 · View original ↗

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